Business Continuity Institute 2022 Horizon Scanning Report – A Summary
Updated: Apr 24, 2022
The Business Continuity Institute has released an excellent annual horizon scanning report.
This review indicates key upcoming risks to organisations. The 2022 report has once again raised interesting points.
Preparing For the Unknown
Successfully scanning the horizon for upcoming risks can improve an organisation’s emergency preparedness, helping businesses to remain resilient and operational during these disruptive times.
The 2020 and 2021 editions of the Horizon Scan Report showed that businesses weren’t ready for COVID-19. The pandemic disrupted supply chains, workplace environments, and general business plans.
Non-occupational disease remains the significant anticipated risk for 2022 as we live in a volatile world which has impacted fuel and utility prices, exposing organisations financially. Organisations would benefit from preparing for the unknown.
Hybrid Work Environments Testing Companies
The hybrid workplace environment is a challenge for businesses. As the risk from COVID-19 reduces, more people are expected to come back to the office. With many still working from home, companies are trying to understand what is required to balance on-site and remote working options against corporate objectives successfully.
Non-occupational disease is perceived as the biggest threat to an organisation with the possibility of reoccurring COVID issues and new viruses. However, the report also indicates that extreme weather events and other challenges are significant issues and should not be forgotten as we tackle living with COVID.
Cybersecurity has always been challenging, but given the hasty way businesses set up remote working solutions, this risk has gone up significantly.
Cybersecurity was nominated as the second-highest concern after occupational disease, with the crisis in Ukraine contributing to a four-digit percentage rise in cybercrimes.
Supply Chain Issues
Disruption to supply chains is getting more problematic. There are many products which can’t be obtained due to shortages.
This shortage can affect the workplace environment. Operations will be less effective if staff don’t have the necessary tools or services to complete tasks. For example, Toyota said it would have to stop production in March because a cyberattack had crippled a key supplier.
The 2022 report states that business continuity management is improving. Managers are handling disruptions and challenges well whilst learning to be adaptable. As the business environment becomes more volatile, this is an essential skill to help individuals and organisations adapt to the unknown.
The report suggests what the business world needs to consider to operate in an increasingly volatile environment. A more robust support system to protect staff from non-occupational disease will be necessary, and understanding the long term future of the hybrid workplace will also need to be part of future business planning.
Take a look at the report here >>>> https://www.thebci.org/news/bci-horizon-scan-report-2022-non-occupational-disease-remains-a-primary-risk-to-organizations.html