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
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to m...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at 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. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, 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. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
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.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Building custom add-ons does not need to be limited to the ideas you see on a marketplace. In his session at 20th Cloud Expo, Sukhbir Dhillon, CEO and founder of Addteq, will go over some adventures they faced in developing integrations using Atlassian SDK and other technologies/platforms and how it has enabled development teams to experiment with newer paradigms like Serverless and newer features of Atlassian SDKs. In this presentation, you will be taken on a journey of Add-On and Integration ...
Now that the world has connected “things,” we need to build these devices as truly intelligent in order to create instantaneous and precise results. This means you have to do as much of the processing at the point of entry as you can: at the edge. The killer use cases for IoT are becoming manifest through AI engines on edge devices. An autonomous car has this dual edge/cloud analytics model, producing precise, real-time results. In his session at @ThingsExpo, John Crupi, Vice President and Eng...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.
"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.
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...