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Press release: New leadership team paves the way for the future of Lootok

For more than 10 years Lootok has pushed the boundaries of traditional crisis management and business continuity (BC). “I launched Lootok with the singular vision of doing BC differently,” said Lootok CEO, Sean Murphy. “Global volatility and increased competition have escalated the need for companies to prepare for disruptions. While everybody knows that they should have a BC program, nobody wants to do the work. BC is only important when it’s too late, and when an incident does occur, any data and plans that have been collected typically remain untouched.”

Lootok continually confronts these challenges by offering fresh points of view on industry standards and new ways to transform programs to meet today’s highly networked environment. Sean Murphy explains: “I knew that BC was an essential part of business. The negative returns I so often saw were not the result of BC itself, but rather how it was implemented. At that point, I saw a major opportunity in going beyond the cookie-cutter approach and offering something of lasting value.”

With this goal, Lootok based its services on a deep understanding of industry expertise and interdisciplinary sciences.  Why integrate interdisciplinary sciences? It is a simple answer, according to Sean: “We get better results. Through integrating cognitive sciences, gamification, and branding concepts we capture higher-quality data, buy-in at all levels of the organization, and sizable costs savings through self-service and automation.”

2017 marked a reflective period in Lootok’s history, where the company restructured areas of the organization to yield even greater innovation and sharpened its services to Lootok clients. Lootok is excited to announce that there are four changes in its talent pool that set the stage for this evolution. 

New Lootok Leadership Team

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Avoid the “wait-for-impact”​ culture - on your mark, get ready, get ready, get ready…

In our business, we can all identify with the feeling that something bad is looming—the next big power outage, unprecedented snowstorm, or vicious cyber attack is right around the corner. Sometimes it can feel like all we’re doing is getting ready for a negative event.

Many industry activities—things like assessments, plans, exercising, and auditing—help to create this “wait-for-impact culture.” As we evaluate endless industry standards, regulations, and consulting methodologies, there is a hyper-focus on documentation, policies, procedures, steering committees, and audits.

This methodical approach works with well-defined risks, or those threats that are so familiar to us that we’ve integrated them into the way we do business. But what about complex risk? The most procedural checklists and plans don’t account for managing those threats that we’ve yet to figure out. Risks that are still emerging and largely unknown are the ones that could actually leave us vulnerable.

Ten years ago, we developed Lootok’s BCM Model®* because we realized that it wouldn’t ever be enough for leaders to simply respond. For companies to stay competitive, leaders must be more proactive than ever to also consider threats that are on the horizon.

get ready,stay alert, take action, Lootok
Get ready, stay alert, take action!

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Can a crisis make you a celebrity?

Picture of man speaking to the press
Ready or not.  Say, “Cheese!”

While artists, athletes, and performers struggle to make their mark in the public eye with a memorable act or viral moment, a different type of celebrity has been emerging on the scene - the spokesperson for a crisis.

Here’s a quick exercise to highlight the point:

Jeffrey Boyd, Lew Frankfort, and Stephen Hemsley. Do these names sound familiar?
If not, don’t feel bad. They are the CEO’s of Priceline.com, Coach, and UnitedHealth Group, respectively.

Now, how about the names Tim Cook and James Comey?
We can immediately recall them as the CEO of Apple and the FBI Director, respectively, feuding over a locked iPhone involving a federal investigation of the San Bernardino shooting.

The media diligently covered Cook and Comey’s debate for more than three months. During that time, both men emerged as stars in a cast of characters ranging from lawyers, judges, politicians, and even presidential candidates. The media and public tuned in to hear their perspectives on data privacy, security, technology, civil rights, and terrorism.

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Should global organizations have a global security operations center (GSOC)?

“How did you go bankrupt?”
“Two ways. Gradually, then suddenly.”

- Ernest Hemingway, The Sun Also Rises

I was working with a head of risk management—the chief risk officer—at a global organization that does not have a GSOC. One night over dinner, I asked him why his organization didn’t have one, and suggested he spearhead the initiative. His response? “I’m not convinced we need one. The organization has always operated without a GSOC, so why start now?” He also said, “The reality is, we’re already doing it here and there. The system works fine. Let people do their thing.” Something that seemed so obvious to me and so unnecessary to him left me on the defensive and him on offense.

The reality is, if you’re a global organization, you need a GSOC—or some version of it. If you don’t have one, you will need to communicate the severity of the situation and get one. Allow me to illustrate the need for such capabilities so you can justify the business case to your leadership and board…

GSOC

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How soon do you need to communicate after a crisis?

I was working with an executive team on a crisis scenario, when one of the leaders asked a question on crisis communication. He asked, “How soon do we need to communicate? 5 minutes, 10 minutes, 1 hour, 1 day, …?” He was looking for a precise number to evaluate a few past incidents that were on top of mind for everyone in the room. I gave the common answer, but right answer, of “it depends”. He gave a look of dissatisfaction and made a discrediting posture. I went on to share a few basic statistics from Daniel Diermier’s research (author of Reputation Rules) such as “online news stories suggest that the typical window is only eight hours; 20% of all news stories on a given issue are published within an eight-hour period; so forth.” Some time has passed since the exercise. After some thought, I want to provide executives with six (6) crisis characteristics to consider when determining when and how to communicate.

Crisis communication meeting
When should you communicate?

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Fresh perspectives: biggest challenge in risk management – metrics

What’s the biggest challenge in risk management? If you ask risk analysis expert Yossi Sheffi, it’s the lack of an industry metric. For example, when you choose a supplier, how can you quantify how risky your choice is? When it comes to metrics, Sheffi says, risk still remains an area where gut feelings and opinions play a major role. And the biggest challenge for risk managers? Defuse the responsibility for managing risk throughout the whole company.

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Fresh perspectives: resiliency strategies

Risk analysis expert Yossi Sheffi discusses two fundamental resiliency strategies that organizations can use to recover from an incident: redundancy and flexibility. Using the examples of Intel and Southwest Airlines, Sheffi talks about the role of redundancies, flexibility and interchangeability, and communication and culture to provide risk managers with realistic and practical approaches to consider.

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Fresh perspectives: risk matrix

Risk analysis expert Yossi Sheffi explores the capabilities and limits of the traditional risk matrix, and adds another axis called “detectability.” Detectability has to do with time dimensions, or how much time we have to prepare and react to a threat. There are some events, such as a cyberattack or theft of intellectual property, that have no warning; you realize their occurrence only after they hit you. While the standard use of the risk matrix is influenced largely by the past, adding detectability means greater opportunity to tackle impending threats.

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Dr. Yossi Sheffi on crisis management

Dr. Yossi Sheffi, author of “Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage,” discusses two of his favorite crisis management case studies with Sean Murphy.

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Emergencies happen. Are you ready?

September marks the 10th annual National Preparedness Month – a nationwide, month-long effort sponsored by the Federal Emergency Management Agency (FEMA) to encourage everyone to prepare and plan for emergencies. Across the country, there are a host of free educational events focusing on topics such as CPR training, preparedness outreach, and family safety.

family safety
family safety

 

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Preparing for Nemo: What to do when a severe winter storm hits

With the winter superstorm Nemo rapidly approaching the Northeast with expected impact in major hubs like Boston and New York City, make sure your people know what to do in the event of a severe winter storm. Here are some last minute tips on what to do when it strikes.

nemo
A different kind of Nemo

 

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How to create behavioral change for your business continuity program

Major change initiatives like business continuity take time, but many programs are often declared failures and abandoned before they are given a chance to succeed. For this reason, it’s crucial to show immediate signs of success, particularly for programs that are newly initiated or being re-launched. New behaviors also take time to become habitual, so in order for a business continuity management program to be self-sustaining, it must be gradually built and adopted as part of the company culture.

In order to accomplish this, people also need what Fogg calls “triggers.” Triggers can be thought of as a cue, prompt, call to action, or request that leads to a chain of desired behaviors. In other words, as Fogg states, “Triggers tell people to ‘do it now!’”

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Have yourself a crisis-free christmas

Ah, Christmas…. a time of yuletide cheer, decorating the tree, opening presents, office holiday parties, and of course, eggnog. All the things that make the holiday season so special… and so dangerous? If you’re feeling overcome with Christmas cheer, leave it to the business continuity professionals to put a damper on those holiday spirits with this list of top holiday risks.

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