Businesses must expand their abilities in countering the effects of ‘new age’ terrorism to ensure that their assets remain available and effective to succeed in today’s rapidly expanding global marketplace. The growing frequency of terror-related events and their resulting effects are due in part to the threat’s ability to rapidly change targets and methodologies. Terror organizations now leverage everyday media tools to enhance the motivation and capabilities of their followers while the security industry lumbers behind in mitigating this asymmetrical threat with conventional measures. Although the definition as to what constitutes terrorism are many, the ability to use violence to alter the behavior of those they oppose is typically considered a core attribute. For example, in 2015, MarketWatch identified the impact of increasing acts of violence eliminated a potential $8.2 billion for the travel industry. Last year, Travel Wire Asia posted a study that polled 605 business travelers and 270 corporate travel executives, finding that 67 percent of travelers stated travel to an unsafe region had a negative effect on them. These findings demonstrate that ‘new age’ terrorism is achieving the desired effect with increasing efficiency.
What is ‘new age’ terrorism? In a paper addressing changes in terrorism, Dr. Arvind Adityaraj states: “…the magnitude of violence, lethality and the extensive use of technology to disseminate ideology, indoctrinate, and mold the mind of the youth in their fold…[with] business-like network structures clearly point towards the significant departure of old terrorism.” This is reinforced in research by RAND Corporation, finding: “At one time…terrorists wanted a lot of people watching, not a lot of people dead…but…headlines demanded higher body counts; [with]…hatred and…fanaticism replacing political agendas.” These major shifts highlight that terrorists have evolved from a suite of predictable attack scenarios into highly innovative networks operating in an asymmetrical environment. This ability to change course quickly is the primary obstacle to businesses being as agile as the threat. To effectively counter terror’s macroevolution, businesses must expand their capabilities beyond previous norms. Without establishing and continuously monitoring their operational risk profile, businesses will continue to rely on ad hoc mitigation while enduring the equivalent of “Death by a Thousand Cuts.”