Welcome!

News Feed Item

Business leaders feel most threatened by IT hazards

RESTON, Va., March 11, 2014 /PRNewswire/ -- A new report published by the Business Continuity Institute (BCI), in association with BSI, has revealed that IT-related threats are continuing to provide the greatest concern for organizations, ranking above other threats such as natural disasters, security incidents and industrial disputes.

BSI logo

The annual BCI Horizon Scan shows that three quarters (77%) of Business Continuity Managers fear the possibility of an unplanned IT and telecoms outage and 73% worry about the possibility of a cyber-attack or data breach.

The report also identifies long-term trends, with 73% seeing the use of the internet for malicious attacks as a major threat that needs to be closely monitored, with 63% feeling the same way about the influence of social media.

This year's top ten threats to business continuity are:

  1. Unplanned IT and telecom outages
  2. Cyber attack
  3. Data breach
  4. Adverse weather
  5. Interruption to utility supply
  6. Fire
  7. Security incident
  8. Health & Safety incident
  9. Act of terrorism
  10. New laws or regulations

Howard Kerr, Chief Executive at BSI, commented:

"At a time when changing climatic, social, political and economic situations are forcing organizations to be nimble in adapting to novel threats, it is essential to learn from others experience and best practice. Developing the resilience of networks, services and business critical information must be an integral part of an organization's wider business resilience strategy. By putting in place a framework based on risk standards, you will be able to identify, prioritize and manage the range of threats to your business more effectively and keep your stakeholders reassured."

Todd VanderVen, President of BSI Americas, stated:

Uncertainty in today's market makes management of business risks an operational imperative. Businesses of all types and sizes need to fortify their systems and build in the necessary redundancies to minimize disruption. End-to-end risk assessment and business continuity planning reduce the impact of disruptive incidents and ensure businesses recover quickly.

The report, designed to offer a better understanding of threats to business continuity and helping practitioners learn how to protect their organizations, also revealed surprising trends in other areas of business continuity. Supply chain disruption, last year within the top ten concerns, moved down the list to 16th place. This is despite increasing supply chain complexity featuring within the top five emerging trends, in addition to the recent BCI Supply Chain Resilience Survey, which revealed that 75% of respondents experienced at least one supply chain disruption during the previous year.

Also highlighted was that, despite these growing levels of concern, only 18% of organizations are increasing their level of investment in business continuity programs while 11% are actively reducing theirs. The report further revealed that 22% of organizations conducted no trend analysis as part of their business continuity process so are potentially failing to assess these threats altogether.

The report concludes that with the variation in concerns across geographical locations and industry sectors, not all threats are generic. Organizations need to invest wisely in the development of technologies that can help counter the threats relevant to them, and the impact these threats would have should they materialise. With so many threats clear and present, the onus is on the industry to emphasise the immediate and very real return on investment a business continuity programme has to offer.

Further findings from the report include:

  • Adverse weather moved up the list of threats with 57% of respondents expressing concern or extreme concern. This was before the storms that have swept the UK and those on the eastern seaboard of the United States and Canada.
  • Geography and industry play an important role in determining threat levels with respondents from Japan and New Zealand showing greater levels of concern for earthquakes, while those in the manufacturing industry rate supply chain disruption and product quality control as greater threats.
  • Of the 71% of respondents who stated that they did conduct a trend analysis, a fifth of them claimed they had no access to the final output.
  • Less than half of the respondents (44%) use the international standard ISO22301 as the framework for their business continuity management programme.

Lyndon Bird FBCI, Technical Director at the BCI, commented:

"This survey shows that there are some threats that are more common among most organizations, while others present themselves to varying degrees between different geographic locations or industry sectors. Organizations are different so the horizon scanning process is essential in order to assess these threats and ensure that the right business continuity plan is in place to deal with the impact of them.

This piece of research has greater significance this year for the BCI as the theme in what is our 20th year is all about looking to the future and facing the new challenges this future will bring."

Notes

About the Business Continuity Institute
Based in Caversham, United Kingdom, the Business Continuity Institute (BCI) was established in 1994 to promote the art and science of business continuity management and to assist organizations in preparing for and surviving minor and large-scale man-made and natural disasters.  The Institute enables members to obtain guidance and support from their fellow practitioners and offers professional training and certification programmes to disseminate and validate the highest standards of competence and ethics.  It has over 8,000 members in more than 100 countries in an estimated 3,000 organizations in private, public and third sectors.
For more information go to: www.thebci.org

About BSI
BSI (British Standards Institution) is the business standards company that equips businesses with the necessary solutions to turn standards of best practice into habits of excellence. Formed in 1901, BSI was the world's first National Standards Body and a founding member of the International Organization for Standardization (ISO). Over a century later it continues to facilitate business improvement across the globe by helping its clients drive performance, manage risk and grow sustainably through the adoption of international management systems standards, many of which BSI originated. Renowned for its marks of excellence including the consumer recognized BSI Kitemark™, BSI's influence spans multiple sectors including aerospace, construction, energy, engineering, finance, healthcare, IT and retail. With over 70,000 clients in 150 countries, BSI is an organization whose standards inspire excellence across the globe. To learn more, please visit www.bsigroup.com

Contact: Shereen Abuzobaa
Vice President Marketing
703-464-1931
[email protected]

Logo - http://photos.prnewswire.com/prnh/20110405/NE77664LOGO

SOURCE BSI

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of patie...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his general session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.