Is today the day that your business operations come to a screeching halt? Is today the day your business is shuttered? It’s a pessimistic view of the reality of business. At any moment, some event that upsets the operational fabric of the business could occur, and in today’s fast-paced business world, every second count.
Events don’t have to be catastrophic to have a lasting impact. Most mature businesses already practice risk management and some measure of business continuity or resilience. Those organizations likely have an understanding that large events with devastating impact have a lower likelihood of occurrence than do small, discrete events that might cause an operational ripple. Take for instance the avian flu scare: Many may remember a time in the mid-2000s when businesses were hyperfocused on the potential impact a rapidly moving airborne virus might have on employees and business operations. While the concept is certainly something worthy of concern, the likelihood of the avian flu or similar threat materializing was and remains very low. That low likelihood didn’t stop organizations from trying to create operational contingencies based on the nature of potential impact. The same is true for other natural disasters or physical threats. The potential for high-stakes outcomes drives consideration, and sometimes, focusing on the potential scale of a single event can distract organizations from focusing on the very real, tangible, and discrete threats that can have a devastating business impact. To read more, please download this whitepaper…
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