(CFO, 15 April 2012) In Brief: The EU debt crisis has the potential to trigger a global recession that would directly affect exporters, banks with exposure to EU debt, multinationals conducting business in the euro zone, and supply-chain partners. Indirectly, all companies could suffer from lower consumer confidence. Consequently, many are developing scenario plans for [...]
Read more(Risk Management Professional, 19 March 2012) In Brief: Volcanic eruptions, which can have “significant consequences” to supply chains, and solar storms, which can disrupt communications systems, electronic circuits and power grids, have joined floods, pandemic flu, and terrorism on a list published by the UK Cabinet Office of the greatest threats to the nation. Our [...]
Read more(FCPA Compliance and Ethics Blog, 9 March 2012) In Brief: Education, preparation, and response are the three key elements of any crisis management plan. This blog recommends actions for chief compliance officers to take at each stage. Our View: We see leading executives in our network developing crisis management frameworks that are specific enough to [...]
Read more(CFO.com, 26 January 2012) In Brief: The knock-on effects from last year’s floods in Thailand continue to hurt companies’ supply chains, ability to fill customer demand, and earnings. The floods “caused a much more severe disruption to our customers’ supply chain than we initially expected,” said one technology company’s CEO. Our View: Whether it is [...]
Read moreIn 2011 several major natural disasters caused tragic personal results but also seriously impacted businesses including the tsunami in Japan and floods in Thailand – with both affecting component manufacturers in the car and phone sectors. Our research shows that 50% of procurement executives feel direct pressure from their CEO to improve their supply chain’s [...]
Read more(Risk Management Professional, 10 January 2012) In Brief: Many companies remain insufficiently prepared for high-impact, low-probability events that cause disruption to their operations for more than three days. Examples of such events include the Icelandic ash cloud of 2010 and last year’s tsunami in Japan and floods in Thailand. Our View: Crises are, by their [...]
Read more(Big Fat Finance Blog, 9 December 2011) In Brief: As the EU debt crisis continues, companies should be doing more contingency planning to understand how they will be affected, and what steps they should take to achieve their objectives if parts of the EU financial system implode. Our View: Due to the volume and complexity [...]
Read more(Risk Management Magazine, December 2011) In Brief: 2011 saw not only the Japan earthquake and tsunami–the most costly disaster in history–but also the Christchurch earthquake, Australian and Thai flooding, and US tornadoes and wildfires. These events have forced companies to take a hard look at the numerous vulnerabilities within their supply chains and manufacturing processes. [...]
Read more(Risk Management Magazine, October 2011) In Brief: Drills not only allow companies to test their disaster response mechanisms but also help identify where updates and improvements are needed. The three basic types of drills are a tabletop drill, a functional drill, and a full-scale drill. Our View: Thankfully, most organizations never go through a full-fledged [...]
Read more(CIR Magazine, 29 September 2011) In Brief: PAS 200, released jointly last week by the UK government and the British Standards Institution, gives companies advice on how to detect, prepare, and respond to crises, such as civil unrest, corporate espionage, employee deaths, and natural disasters. Our View: Leading companies avoid being caught flat footed when [...]
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