Business continuity and a six-pack of risk strategies
Knowing the different types of risks that can cause business disruption in a company is crucial in these volatile and complex times.
I was going to cover in detail the six types of strategies to help protect a company’s critical processes but I’m sure you can pick them up in business continuity process planning training or from your implementation partner.
The important point I want to get across is how to manage different kinds of risks that could lead to business disruption.
You can handle risk by modifying it, reducing it, transferring it, putting in loss mitigation controls or through business continuity management.
All these options depend on a company’s risk appetite – how much risk you are prepared to retain in the company.
Now to the point — think of all the risks you face in your business and how you are going to manage them.
It was interesting to see Acer hit with R7 billion ransomware demand this week. Do you have cybercrime threats that face your business? What would be the financial impact because of disruption?
Enjoy your weekend. #riskmanagement #businesscontinuityplanning