Risk analysis helps determine what areas of your business are the most vulnerable to specific disasters, and it should never be over-generalized. Most businesses hone in first on what could go wrong technologically or how natural disasters could decimate their physical location. These are all the result of natural circumstances that may not be the work of human intervention. However, there’s a small chance they could be, which is why any risk analysis should include a thorough human element.
While we won’t necessarily include human beings being responsible for what’s deemed a natural disaster, your business should think of the immediate threats from people and how it could affect your welfare. So many nightmare scenarios might come to mind that it could become overwhelming. But the whole point of risk analysis is to see just how close to the edge you are. By doing a business continuity plan afterward, you can prepare for some of the unfortunate things human beings are capable of doing.
Determining Risk with Your Employees
While you may hate to think that there’s considerable risk from your own employees, it’s something you have to take seriously. No matter how loyal you assume your employees are in upholding a singular company vision, there could be the rare few doing illegal things behind your back. There could be theft, embezzlement, extortion, or even leaks of trade secrets going on without your knowledge. All of these are capable of causing considerable damage to your company if they bring your business operations down.
You’ll have to work out contingencies in your business continuity plan in dealing with the possibility of dishonest employees. In the case of trade secret theft, it may have to involve a lock down on security or even legal action. A disgruntled employee could also sabotage your computer systems that could be quickly amended by backing up all your data in the cloud.
Threats from Outside Your Company
Sometimes your company may be located in a volatile area where there’s more crime or perhaps even protesters on a regular basis. Do these people pose a threat to the welfare of your business? In a high crime area, you could be faced with recurring break-ins or gang violence that could scare customers away. Protesters could do the same and disrupt the flow of traffic.
These incidents could be more of an erratically prolonged problem happening only periodically. Even so, you need to be prepared to find alternate ways to attract customers on the days the incidents do happen.
Threats Through a Fiber Optic Line
Cyber threats from human beings should always be at the top of your risk analysis list, particularly in your tech section. Even though many of those threats are from faceless people, we know they’re out there and somewhere across the sea. Many of them are sitting for hours hacking into American databases to extract secrets or to just cause general disruption.
That eerie reality is one that you have to prepare for and not just place in the back of your head. Finding every way to help back up your system will be mandatory in the event a hacker decides to bring everything down. Virtualization is becoming a popular solution to those threats, because you can have your entire server duplicated in the cloud.
Using virtualization already brings your risk analysis percentage down considerably. Regardless, never underestimate what human beings can dream up to keep causing more chaos to businesses in sitting duck mode.