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."


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
[email protected]

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


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
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
@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.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
What are the successful IoT innovations from emerging markets? What are the unique challenges and opportunities from these markets? How did the constraints in connectivity among others lead to groundbreaking insights? In her session at @ThingsExpo, Carmen Feliciano, a Principal at AMDG, will answer all these questions and share how you can apply IoT best practices and frameworks from the emerging markets to your own business.
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...