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10 lessons in crisis management

When bad things happen, companies can’t afford to just react on the fly. Successful management of a crisis requires understanding how to handle an event, before it occurs. Staying competitive in the marketplace means taking a more proactive approach to crisis management. Here’s how.

A matter of hours or days is all it can take for a crisis to destroy a company’s reputation.

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Ukraine crisis poses business interruption risk

For any organization with involvement in Russian territory, recently imposed sanctions due to the unpopular Crimean conflict introduces new potential complications affecting operations, supply chain, personnel and communications. What are the implications for risk managers?

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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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How can you make your crisis management team a more effective working unit?

There are three key steps that must be taken to ensure the cohesiveness of your team. First, you must factor in the human element. Remember that a crisis management team (CMT) is an ad-hoc working group – its members typically don’t interact on a daily basis, only in an escalated incident.

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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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