Towards 2021 - Upcoming Organisation Risk & Resiliency Trends
Authored by Henry Ee
From early 2020, businesses around the world collectively experienced the impacts of COVID-19 where there were business disruptions and even stoppages imposed by government regulations in a bid to contain the pandemic. This disaster put an incredible strain on the national economy and had global impacts on the supply chains industry; as an example, when China, the world’s factory, was impacted, global supply chains were affected. This tested the efficiency and strength of Business Continuity Plans (BCP) in organisations when disruption of common resources such as their workforce, supply chain, materials, transportation, and communications arise. Many organisations without a BCP or contingency plan also scrambled to put in “quick-fix” plans to counter the issues faced.
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