If you’re in the business continuity industry, it might not surprise you that 77% of business leaders fear unplanned IT and telecom outages, and 73% worry about cyber attacks and data breaches. You’ve probably gotten that blank stare or outright laugh when you ask serious questions about any plan that may be in place. It’s a good thing you’re on it, but fear of disaster certainly doesn’t make your job easy. Let’s discuss some of the threats to your business continuity plan.
We’ve already blogged about data breaches and cyber attacks, and these are just two of the many common threats to business continuity. Additional items to consider:
In the Upper Midwest, weather is a common topic of conversation. Because weather is getting more extreme, it needs to be discussed a lot when it comes to business continuity planning. You need to think about not just how weather will affect your business directly, but also how it will affect your supply chain.
Utility supply interruption
No matter what you do to protect your business, it’s going to be hard to protect yourself from the threats to your supply chain. Your business continuity plan has to take the loss of utilities into consideration to be complete.
Whether it’s physical or cyber, terrorism is a real threat to any business. The potential wide-scale nature of terrorist attacks mean that even if not affected specifically, your business could suffer from fallout after a terrorist attack.
Laws and regulations
Are you prepared to answer questions and produce the right records quickly in the event of a data breach? New laws and regulations surrounding how organizations must respond when compromised by cyber criminals have changed and are more robust. Failure to meet the new laws and regulations can result in fines that could force a business to close its doors.
No two businesses or organizations are exactly alike, however, being able to assess risks and plan for the worst remains vital in keeping businesses running after disaster. The threats are real and the consequences dire; investing in the right preparation and tools is essential. Whatever else may be threatening the longevity of your business, don’t let apathy or lack of planning be one of them