A combination of dynamic and powerful forces including cyber risk, ever-accelerating technological advances, regulatory complexity, natural and human-made catastrophes, and globalization of the supply chain confronts manufacturers more than at any other point in history. To respond to this continually evolving array of risks, executives need robust tools and fresh insights to support their understanding of the risk landscape, as well as to accurately assess the sophistication, effectiveness, and maturity of their risk management programs.
Corporate Affairs, Corporate Communications, Operations, Information Technology, IT Policies, Risk & Compliance, Corporate Security, Risk Management
Over the past few years, we have witnessed significant changes in the regulatory landscape for manufacturers doing business in Europe. One of the biggest changes concerns the implementation of the General Data Protection Regulation (GDPR), which will come into effect on May 25, 2018.
Nearly half of manufacturing executives lack confidence their assets are protected from external threats, according to a new study from Deloitte and the Manufacturers Alliance for Productivity and Innovation (MAPI) on Cyber Risk in Advanced Manufacturing. Study results indicate 40% of manufacturing companies were affected by cyber incidents in the past 12 months, and 38% of those impacted indicated cyber breaches resulted in damages in excess of $1 million.
One day in mid-October, more than 1,200 U.S. websites were taken down by a massive botnet attack launched through hacked Internet of Things (IoT) devices such as home Wi-Fi routers and CCTV cameras. There doesn’t seem to have been a political or criminal motive for the assault. Rather, it was more like some sophisticated hackers taking a joyride at the expense of millions of Americans.
Risk & Compliance, Corporate Security, Travel Security, Risk Management, Business Continuity Planning, Business Interruption Planning, Crisis Management
While the events most often planned for are site- or natural disaster–related, businesses should also include workplace violence, terrorism, and cyberattacks in their business preparedness efforts. This is especially true given the nature of black swan events as those that (1) take place outside of regular expectations, (2) carry an extreme impact, and (3) seem obvious, explainable, and predictable in hindsight.
Risk & Compliance, Corporate Security, Travel Security, Global Travel, Employee Health Management
Jennifer Hardwick, pandemics and global health analyst at OSAC, recently gave a webinar on the Zika virus titled “Zika and Mosquito-Borne Illness: What Companies Need to Know.” The webinar recording is available here; MAPI members can log in to download the slides.