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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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Why are cyber threats on top of every executive’s mind?

Sharing a few thoughts on cyber security…

I was on the phone last week with a data visualization expert and author discussing visualization problem solving—basically, how to solve problems or at least understand problems with pictures (i.e., drawing pictures). He asked a question about cyber security: “Why is a cyber threat so scary? Isn’t it just another threat?” He was right… in part—cyber is another threat, just like infectious disease, civil unrest, flood, power outage, fire, war, or accident. While we use common frameworks and capabilities for threats such as command and control, situation awareness, threat intelligence, common operating picture, common ground, and so forth, each threat has unique characteristics we need to consider. Why is cyber security on the top of every executive’s mind? It comes down to six (6) characteristics of a cyber threat:

  1. Intentional
  2. Speed
  3. Wild
  4. Interconnectedness
  5. Location
  6. Detectability

There’s a mnemonic for these six (6) characteristics: “is wild.”

Person under cyberthreat
Cyber attack

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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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Challenges and opportunities of omnichannel retailing

The retail sector faces risk challenges ranging from cyber security threats to active shooter incidents. These threats, coupled with advances in new technologies, social media and public perceptions of risk have required the retail sector to reevaluate the resiliency of their business.

Written by Lootok’s Sweta Chakraborty and Iris Chung.

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Understanding the human element of risk

When it comes to managing risk, one oft-overlooked aspect is risk perception, or how we perceive a threat. What we believe or do not believe about risks has an enormous effect on how well we prepare ourselves for them, and the action we take when they occur. What factors into our fears, and how do they impact our decision-making?

Risk perception
Risk perception

 

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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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What’s in a name? Dissecting Nemo.

Why all the ruckus about naming a winter storm? Sometimes, the intention behind the names is to draw the public’s attention to severe weather. While winter storms may not have as large of an impact as hurricanes, they can often be erratic; for example, dumping snow in one area while leaving nothing more than rain or fog in another. Now, it’s becoming clear that superstorms have hype cycles of their own.

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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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A funny take on risk perception

When it comes to risk perception, we are notoriously prone to misconceptions. Whether fearing planes over bikes or elevators over stairs, we have a tendency to misjudge just how dangerous certain situations are.

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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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