Business Resilience

Business Resilience The best defense is good offence and this applies to Business Resilience. Disaster recovery and business continuity systems are all focused on ensuring a strong response to a crisis. But in today's world, real business resilience WIPRO Applying Thought requires a proactive and preventative approach, led right from the top of the business, to grapple with an issue before it emerges. (2) Data fraud / theft GLOBAL RISK LANDSCAPE 2014 CHANGING RISK HORIZON Critical information infrastructure breakdown 2007-2008 2013-2014 1) Cyber attacks INCREASING 15 Liquidity crises Failure of financial mechanism or institution Manmade environmental catastrophies INTERNET Internet users per Corruption Terrorist attack >40 100 inhabitants Decline of importance of US dollar Organized crime and illicit trade : Biodiversity loss and ecosystem collapse CYBER <0.8 Failure of critical infrastructure; ATTACKS Successful attacks/ Fiscal crisis week/organization 1.5 Climate change Global $150 bn COST OF CYBER CRIME Political and governance failure Unemployment and underemployment social instability > $400 bn Oil price shock Water crises Natural catastrophies DIGITAL REPUTATION Did not exist much. Income Food crises Extreme weather events Very isolated disparity 1. 82% reputational / brand damage Economic and resource nationalization Interstate conflict: State collapse Mismanaged urbanization SYSTEMIC Limited Impact Chronic diseases Antibiotic-resistent bacteria Pandemic - Weapons of mass destruction RISK Global and across economies 4) SYSTEMIC RISK CASE STUDY 2013: CYBER CRIME Most challenging risks to a firm: RISK TO RESILIENCE Risk of an economic downturn - 79% Sovereign Risk - 76% MOST COSTLY KINDS OF ATTACKS Regulatory risk - 39% $11.6M 100+ AVG 32 DAYS 21%- Malicious Code G INTERCONNECTEDNESS 6 DIGITAL REPUTATION 5 21%- Denial of Service For the year 2013: ATTACK COSTS ATTACKS PER AVERAGE TIME TO 296 $192 bn Natural disasters across the world 231 13%- Web-Based Attacks PER COMPANY COMPANY RESOLVE INCIDENTS Risk is reputation Total economic losses worldwide Tech. threat is Social Media 98% FT RESILENCE REPORT FINDINGS view technology risk management as important DISRUPTIVE SOCIAL MEDIA EASE OF DIGITAL TECHONOLOGY TECHNOLOGY REVOLUTION ACCESSING DATA NATIVES TRENDS IMPACTING 32% THESE RISKS suggest that continous risk 83% INTERNET UNIFIED VIEW OF HYPER - PPT (PEOPLE, evaluation is the consider consider OF THINGS THE ECOSYSTEM CONNECTIVITY PROCESS & most important digital reputation as a major pitfall factor in risk TECHNOLOGY) management SOURCES: 1. Booz Allen Hamilton, Burson-Marsteller Asia-Pacific | 2. WEF Global Risk Report 2014 | 3. Ponemon Institute 2013 Cost of Cyber Crime Study | 4. Bank of England | 5. PR NEWSWIRE | 6. Exploring Strategic Risk: A global survey by Deloitte and Forbes Insights NYSE WIT | OVER 140,000 EMPLOYEES | 60 COUNTRIES CONSULTING | SYSTEM INTEGRATION | OUTSOURCING (3)