Every business is now exposed to global risk

The consequences of globalisation, coupled with developments in technology, have exposed businesses to a far greater array of malicious risks – wherever they are located. This means incidents happening in one country or region have an impact across the world, even if they might appear unrelated.  

We have seen how organisations that operate domestically, even locally, still feel the impact on supply chains, global shipping, inflationary pressure and travel disruption. Whether it’s an increase in energy prices caused by the Russia/Ukraine conflict. Or conflict in Africa that contributes to the chip shortage and a resulting cyber security weaknesses.  

In this environment, the risks faced by businesses are becoming more varied. And the boundaries between different areas of risk are more blurred and complex. For example, climate change has led to an increase in activism and civil unrest, and a growth in terrorist groups with access to technology has increased the risk of cyber-attacks.

In this environment, all businesses should make business continuity management a priority and plan for scenarios which they might not have previously considered. In this article, CHC explains more about these risks and discusses what businesses need to do in response, to understand the issues they face and have robust plans in place.