resilience starts with information
Hurricanes Harvey, Irma and Maria dealt a big blow to corporate America.
More than 40% of companies in the S&P 500 that have reported third-quarter earnings so far mentioned the hurricanes on investor calls, according to a Sentieo analysis. Flights were grounded, stores were closed, manufacturing production was halted and customers didn’t go out to eat.
Corporate profits still surged, led by strong consumer spending. But Harvey and Irma cost companies around $20 billion in lost business, estimated Gus Faucher, chief U.S. economist at PNC. Mark Zandi, chief economist at Moody’s Analytics, put losses as high as $22.5 billion in the U.S. and $30 billion from Maria’s staggering toll on Puerto Rico…
Is trading resilience for business growth a smart strategy?
Not long ago, the probability of a threat materializing was enough to open the IT pocketbook. Today, the mentality has shifted from one of risk prevention to one of risk marginalization. This mindset isn’t just held by the CEO, but rather the entire C-suite. As a result, organizations are beginning to shift portions of “operational risk accountability” to line-of-business leaders. This approach must also tie into Resiliency Operations planning.
This shift is understandable. Operational excellence, product development, and financial performance are the engine that powers any business. Accepting some level of risk is to accept that the realities of the modern enterprise have changed. Today, most business technology leaders understand that the questions isn’t “Will we be hit by a disruptive cyber incident?” but rather “Are we prepared if we are hit by a disruptive cyber incident?”
Executives and consumers recognize that breaches are no longer uncommon and seem to be focused on the reasonableness of how far a business goes to protect its critical data. The goal should be to protect the critical data, coupled with resiliency planning. Strategy in this area is critical. Otherwise, there will be an undesirable impact that can carry high costs…
Big brands fail brand resilience test: Grayling
Almost half of Fortune 500 companies fail the ‘brand resilience’ test, causing millions of dollars of reputation damage, according to new research published today by Grayling, an international communications agency.
The Critical Conditions research examines the brand search profiles of a cross-section of international companies from the Fortune Global 500, taking a look at the biggest issues that affect them, and using Grayling’s proprietary ‘GCore’ reputation management tool to determine the reputational health of their search spaces.
In the realm of ‘too big to fail’ brands, do their digital and communications strategies culminate in an online space that is resilient?