Having a robust disaster recovery plan is critical for businesses to mitigate the risks of major disruptions and ensure business continuity for several reasons, minimize downtime, reduce data loss, maintain compliance, protect reputation, and improve resiliency. In the last 10 years, there have been many businesses that have reported major disruptions due to various reasons. Here are some examples: Target – with a revenue over $92 billion employing 400,000 thousand employees with 1900 retails stores. In 2013, Target suffered a massive data breach that affected more than 40 million customers. The hackers were able to steal credit card and personal…
The Importance of Social Media Risk Management for Businesses in the Healthcare Field
There’s no question social media has had a profound impact on our daily lives, changing not only the ways we...
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Strategies for Effective Risk Management for Outdoor Events
While there are many perks to having an outdoor event — fresh air, less maintenance, and reduced costs — there...
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Proactive Workplace Health: Strategies for Mitigating Risk
Workplace accidents and injuries cost American businesses $167 billion in 2022 alone. That works out to a bill of $1,040...
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How Geographic Footprint Determines Corporate Sustainability & ESG Risk Assessment
For insights into a company’s ESG risk assessment, look to its geographic footprint. In BDO’s 2024 CFO Outlook Survey, which...
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