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Seven insights from superstorm Sandy: a financial sector retrospective

$18 billion dollars. That’s the number estimated in damages caused by Hurricane Sandy just in the state of New York alone. With the unexpected turns that transpired amidst the super storm, all businesses were reminded of the importance of business resiliency.

Given the vast amount of information presented to-date, it is still very important that the financial sector revisit the surprises from Sandy to ensure that critical financial services are better protected. A team of experienced BCM advisors gathered the recommendations in the accompanying table from industry thought leaders in leading global financial services companies to learn from their perspectives.

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Celebrate business continuity awareness week with these thematic posters

Looking for free resources for Business Continuity Awareness Week (BCAW)? Check out these thematic posters that illustrate this year’s BCAW theme.

posters
Download awareness posters

 

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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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The missing factor in your risk assessment: detectability

Dr. Yossi Sheffi explains the “detectability axis,” which considers threats you can only detect only after the fact. This concept challenges our conventional methods of measuring risk using probability and impact.

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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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Everyone needs a backup plan - just like every company needs a business continuity plan

This video for the Homeland Security Business Continuity Planning Suite communicates core business continuity concepts and highlights the benefits of planning. In just a few minutes, the video manages to cover a variety of disasters including a loss of power, hurricane, fire, and a human threat. It’s perfect to use for kicking off a planning workshop or meeting, or circulating to department leads or plan writers to increase their awareness.

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Reinvigorating BCM: The power of co-creation

More and more, successful organizations are realizing that a meaningful “customer experience” involves the co-creation of a product.  What does co-creation look like in business continuity?

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