A plea for exercise
How an event that affects day-to-day business operations is handled has a significant impact on the extent of the damage. Therefore, not only should precautionary measures be implemented in the company in advance to keep the residual risk as low as possible, but reactive measures should also be planned. After [...]
The Ever Given – a symbol
A symbol of how dependent companies are on their supply chains, of how emergency response has to rely on rudimentary technology, and ultimately of how the little person has to manage the big crisis. The latest example of how vulnerable supply chains are was provided by the Ever Given accident [...]
Compliance management as a means of crisis prevention
Keeping an eye on the numerous legal requirements for companies is a great challenge for many entrepreneurs. And yet it is worth taking up this challenge. Legal violations can quickly turn into a tangible crisis for the company. Claims for damages (e.g. from product liability), fines (e.g. breaches of antitrust [...]
Cyber Due Diligence
The need for cyber due diligence in a merger or acquisition is more relevant than ever. On 9 July 2019, the UK Information Commissioner's Office (ICO) announced that it would issue Marriot International with a £99 million fine for breach of European data protection law under the European Data Protection [...]
Emergency Management: Immediate action, business continuity, recovery – simply explained
Immediate Action Plan, Business Continuation, Recovery Emergency management has its own vocabulary. The graphic from the BSI 100-4 Emergency Management provides a good overview of the chronological sequence. We explain this using a simple example: You have planned a romantic dinner for your partner's birthday and are sitting at home [...]
Supply chain: Risk assessment in general
The mere consideration of financially oriented risks is no longer sufficient in today's logistics. Rather, aspects such as risk management, sustainability and social requirements are of great relevance as a result of society. Several studies show, however, that many companies have not yet implemented risk management, nor have plans been [...]