Increasing a business’ digital competence is a need that’ll never go away; continual transformation is required to be competitive in the market. So much hinges on getting digital right that entire new disciplines and executive roles are springing up, including the Chief Digital Officer and Chief Transformation Officer. Change makes many people uncomfortable, but it’s a necessity.
A new study from BELFOR Property Restoration found that despite the U.S. experiencing 14 major natural disasters in 2018 and incurring more than $91 billion in damages, 80 percent of respondents felt they are only moderately, slightly or not at all prepared for disasters.
Operational resilience refers to a business’s ability to prevent, respond to, recover and learn from operational disruptions. Without operational risk management, operational disruption to a business can impact financial stability, threaten the business’s overall viability, and/or harm consumers and other businesses. Yet challenges to ensuring resilience and continuity abound, and they grow more complex each year. But here is the good news: Solutions exist.
Rep. Jared Huffman (D-CA) and Rep. Anna G. Eshoo (D-CA) introduced the Wireless Infrastructure Resiliency during Emergencies and Disasters (WIRED) Act, legislation to allow states to require wireless companies to deploy resilient infrastructure in order for cellphone networks to better withstand disasters.
Research from Healthcare Ready has found that most Americans (54%) are aware they or their family could be impacted by a disaster in the next five years, yet more than half (51%) do not have an emergency plan in place.
According to the Disaster Recovery Institute (DRI), the actual scope of work of a BC or resilience professional hasn’t really changed. Organizations still must have high-quality response and damage limitation plans formulated by skilled planners. The change in the resilience profession, however, is moving away from a technical specialization and into mainstream business risk management. DRI reports that consolidation of resilience disciplines has increased over the past year. The main result of this is that fewer organizations have independent business continuity departments, with BC professionals being incorporated into existing risk management or information security divisions.
This month, Security magazine brings you the Security 500 Report, Rankings and Thought Leader Profiles. How does your enterprise compare to others? Which security programs are leading the way? Also this month, we highlight artificial intelligence, ransomware attacks, vaping and cybersecurity regulations.