Thursday, 17 May 2012
We learn nothing from history: lessons from 2008 for information security?
We learn nothing from history: lessons from 2008 for information security?
By Richard Moss | Apr 25, 2009 | 4139 reads
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Times have changed and don't we know it. And the myth that China’s economy, and to a certain extent the rest of Asia’s, had somehow been “decoupled” from the economies of the USA and Europe has been exposed as the world now grapples with the challenge of how to deal with the first major recession to strike what has become a truly globalized world economy.
However, one useful lesson for all of us is to explore where mistakes or misinterpretations were made in the areas of risk management and learn the lessons for future use.
In particular the risk averse nature of some industries – most notably the financial services industry although its certainly not confined there – has created an economic climate today that is risk averse which if not corrected presents a serious risk of choking the global economy through a “flight from risk” or at best, may mean individual organizations’ will miss out on real business opportunities through a decision making paralysis brought on by a climate fearful of taking any risks.
And yet, almost a year ago my group – BT Global Services - commissioned a survey with ‘the Economist’ asking a wide range of international chief executives questions about their feelings towards the future, and their response was extremely positive despite the pending global crises that toxic debt in the banking system was about to unleash ….. and as we approach the first anniversary of that survey its worth reflecting on what risks organizations face and what – if any – changes have occurred in the risk landscape today. This then begs the obvious question – having got it wrong so badly over the past 12 months, what can we learn going forwards?
The CXOs contributing to the survey: Risk 2018: Planning for an unpredictable decade highlighted twelve major sources of risk as being the major threats over the coming decade which were:
- Retrenchment of globalisation/increase in protectionism
- Oil price shock
- Asset price collapse
- Emergence of disruptive business model
- International terrorism
- Unexpected regulatory change
- Global recession
- Instability in the Middle East
- Increased competition from emerging market companies
- Talent shortages
- Climate change
- Increased industrial pollution
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Then from what we can learn better...!
WoW - on the risks from 2008, really saw some coming and some not so ... and i loved the report by the way .. what dont add up to me as how many people are prepared to compromise on security ! what i seem to see in my organisation is great intent but no beef behind it.
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