Business continuity management
Black swan or blind spot? The duality of extreme events
A black swan is characterised by Nassim Nicholas Taleb [Ref. 1] as an event which:
1. Is a surprise (to the observer), an 'extreme outlier'
2. Has a major impact
3. Is rationalised by hindsight, as if it could have been expected
Know your breaking point: the benefits of organisational stress testing
The term 'Stress Testing' has featured in the headlines over the past few years as authorities respond to the worldwide banking crisis and, more recently, the Fukushima nuclear power plant incident. Banks or operators of nuclear facilities have been required, or encouraged, to undertake 'Stress Tests' to assess the ability of their organisation to withstand extreme conditions.
State of emergency
The recent events at the Fukushima Daiichi nuclear power plant in Japan have caused the international nuclear community to review their approach to extreme events [e.g. Ref 1] and, in particular, emergency preparedness.
The best in planning for the worst …assuring business continuity
Business continuity and reputation topped the list of "most important risks over the coming year" in a recent survey of risk managers (ref.1) and along with the publication of a new Business Continuity Standard (ref.2), is likely to lead to businesses coming under even greater pressure to demonstrate that business continuity risks are managed effectively.