Nowadays, firms can expect some form of value-destroying corporate crisis at least twice a decade. And even those numbers might be too optimistic. In fact, a 2018 Forrester survey found that a full 100 percent of companies experienced a critical event in the last two years. Many dealt with multiple.
Ensuring compliance with regulatory requirements is critical to your business. But crisis and business continuity planning – often mandated by law – shouldn’t be a box-ticking exercise. Unfortunately, too many firms fall into the trap. What risks do those companies face treating crisis preparedness as a compliance-first practice?
Security incidents have become increasingly common in schools and universities. And bomb threats, in particular, are on the rise. Just look at the data.
Just last month, Hurricane Dorian cut a destructive path through the Bahamas. As a historic category-5 hurricane, the storm leveled the Abaco Islands, leaving a rising death toll of 53 with more than 1,000 people missing.