- A software malfunction halted trading at the New York Stock Exchange for four hours
- Hardware issues grounded hundreds of United Airlines planes for two hours
- Wall Street Journal’s website displayed a 504 error for an hour
Although each professes cyber criminals were not behind the outage, it highlights how much we rely on our online connections to keep things ticking over.
With countless breaches filling up our blog, it’s quick to suspect foul play. But it’s important to not overlook a fundamental fact: things break.
“Even in today’s hack-ridden world, it’s still possible to have code that breaks without outside intervention,” David Gewirtz, a cyberwarfare advisor, told CBS News.
How you prepare for and manage a technological fault within your systems so that you can return to business as usual as quickly as possible is very important.
It is often the board’s responsibility to ensure that the organization has a robust and fully tested business continuity and disaster recovery plan that covers all the risks that could potentially harm its business. Essentially, this means that businesses will not have to make judgment calls or spur-of-the-moment decisions that could unintentionally harm the business.
Luckily, the NYSE, United Airlines, and the Wall Street Journal were all able to continue trading and return to normal within a matter of hours, but in today’s fast-paced, technology-driven world, a few hours can seem like a lifetime.
Find out more about business continuity:
Understand how to develop a modern response to your operational risk landscape and prepare your organization for interruptions to your key activities with the insightful book, Everything you want to know about Business Continuity. Written by established business continuity manager Tony Drewitt, this book will help you return to ‘business as usual’ as quickly as possible after an unforeseen incident. Find out more >>