The world is in a time of rapid change resulting from the usual culprits:
- The integrated economies and labor market have created a “flat world.
- The Internet has reduced friction in the marketplace
- The accessibility of data has revolutionized target marketing
- The low cost of processing, storage, and software environments (e.g., Java, Python, R) has made application development efficient, enabling innovation and disruptive technology.
In the past, building business was associated with stability — creating an organization of lasting value that persisted even through a change of management or some market structure change. Running a business in the face of today’s changes, however, alters the nature of business management.
Yahoo garnered a lot of attention in 2009, when it announced the unusual design of a data center it was building in Lockport, New York. Shaped like a chicken coop, the facility would rely primarily on outside air for cooling, use a flywheel-based energy storage system, and have an annualized PUE (Power Usage Effectiveness) under 1.1, which was better than the average data center PUE Google was reporting at the time.
Now, the patents and patent applications describing the design of the Yahoo Computing Coop data center, also known as the Yahoo Chicken Coop, are for sale. The innovations are part of the trove of thousands of patents and applications the troubled internet giant is hoping to sell. Yahoo expects to make more than $1 billion from the sale, the Wall Street Journal reported, citing anonymous sources.
The trove of patents is only one of the assets Yahoo is selling as it continues to wrestle with shrinking revenue. It has been soliciting bids for many of its assets, including its core internet business, according to news reports, with Verizon Communications and AT&T reportedly being top contenders for its core assets.
Smart risk analysis and planning then helps to avoid gaps and vulnerabilities. This may not be uppermost in the minds of start-ups or established companies.
Often, the priority is given to finding a concept or a position likely to please the market, and then to worry about continuity afterwards. Yet enterprises may find business continuity entering into their life cycles earlier and earlier.
One reason for business continuity to appear sooner instead of later is the predominance of IT in particular in many sectors of business.
Dr. Jim Kennedy explains why managing the cyber risks posed by suppliers and partners is the weak link in many information security plans and looks at how to improve in this area.
Computer, network, and information security is based on three pillars: confidentiality, integrity, and availability. In my business as an information & cyber security, business continuity and disaster recovery consultant, I see every day how various sized and types of companies address and balance these three areas along with business needs. Some very well, some not so well, and some really poorly.
Given all the regulations and standards (HIPAA, SOX, NERC-CIP, FISMA, PIPEDA, ISO 27001/2, NIST 800-XXX and etc.) developed and published over the last five or ten years you would think that US businesses and government should be doing much better in securing their computing systems and network infrastructures. However, based on the seemingly never ending stream of cyber events prominent in the press and trade journals almost every day this does not seem to be the case.
Dee Smith and Associates explores what good communications after an incident looks like, looking at some real-world examples and emphasising the important of being transparent during a crisis.
A crisis can be one of the most stressful and testing events that you will likely have to face during your career. And they can make or break individuals, companies or any such group that is unfortunate enough to be dealt one.
Every organization will experience a crisis of some sort during its existence. Crisis management and how a major incident is handled is one of the most crucial processes for an enterprise. A major incident, which is one with a significant negative business consequence, needs to be handled with a well-defined process which is not currently clearly defined in existing methodologies. If you have done crisis management training, then it's likely that you are well prepared and the steps for managing a crisis are documented in your business continuity plan. If not, at least consider the most important factor in any crisis: communication.
Compliance is a profession that requires multi-tasking – another profound grasp of the obvious. But in the multi-tasking world, some principles and strategies are more important than others.
My colleague and compliance guru Tom Fox has coined the mantra: “document, document and then make sure you document.” My contribution to this same mantra is along the same lines: “If you do not document, then in the eyes of DOJ and the SEC, it did not happen.”
Putting aside these pithy mantras, it is important to take a moment and consider the real implications of compliance documentation. A good place to start is the Hitachi enforcement action from last year.