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CVS's lesson: Carpe diem
Harvard Business Review
CVS is now one of a small group of companies that have realized that their reputation is the most valuable asset they have and that building a stronger reputation by avoiding risks to that reputation can create a significant competitive advantage. The following takes a look at how these companies are protecting their reputation and brands while enhancing and realizing strategic value from them.
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State of green business: Water rises as a risk factor
GreenBiz
For some companies, water is becoming a chokepoint — a commodity without which operations are curtailed, or even stopped altogether. These need not be water-intensive companies, like farming or energy production. In many cases, water shortages upstream in a supply chain can wreak havoc. Water is now one of the highest global risks, alongside the economy, unemployment, food shortages and extreme weather patterns, according to the ninth edition of the Global Risk Report, released in early 2014 by the World Economic Forum.
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Looking for similar articles? Search here, keyword(s): Water's role in business continuity.


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No need to stress: New risk management jobs are coming
eFinancialCareers
Global banks appear ill-prepared to handle the sheer amount of effort required to complete impending stress tests and will likely need to add risk professionals and other staffers to complete the work, according to a new PwC report. PwC found that all 24 banks included in the survey are confident in their ability to meet regulatory requirements and pass stress tests, which determine whether a firm is well-capitalized enough to withstand a major economic collapse.
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Climate economics: Make supply chains climate-smart
Nature
Extreme weather — including massive storms such as Typhoon Haiyan and Hurricane Sandy, and severe floods and droughts — is likely to become more frequent and intense as global warming accelerates. Links in global economic chains and world markets mean that extreme weather in one place can have repercussions elsewhere. Yet the impacts of adverse weather on supply chains are missing from the assessments of the Intergovernmental Panel on Climate Change, and with a few exceptions, are being ignored in discussions around adaptation.
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Workplace drug and alcohol problems growing concern
OnMedica
The impact of drugs and alcohol misuse is a growing problem in the workplace, says the BMA in new guidance for clinicians designed to help employers better tackle the issues. Drug and alcohol misuse not only lowers productivity, but it is strongly linked to ill health and early death, says the BMA, which urges employers to make sure that any staff with substance abuse problems have access to an occupational health service. Few currently do, it says.
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Mobile payment fraud especially risky for small business
Business News Daily
As mobile payment options become more prevalent among small businesses, so too do the opportunities for fraud, new research shows. A study by LexisNexis and Javelin Strategy & Research discovered that smaller mobile merchants — small businesses that accept at least one type of payment through either mobile browsers, mobile applications or mobile point-of-sale systems — rely on fewer fraud-prevention solutions, meaning they are often more exposed to deceptive schemes.
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Be proactive ahead of storms by updating business continuity plans
MSPmentor
Instead of having your on-call employees sitting around, waiting for data and backup disaster recovery customers to go dark amid ongoing winter storms across the U.S., be proactive by focusing on ways customers can make your job a little easier. You know the basics: Work with your small and medium-sized businesses customers to develop some type of business continuity plan. While many of your customers may already have one, it may behoove you to go back to older plans and update them by connecting with your customers.
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'Sustainability' is venture capital's new buzzword
GreenBiz
"The definition of 'clean tech' has expanded greatly. There is still some perception that when you talk about clean tech, you're talking about a technology risk on solar, wind and biomass," Craig Metrick, leader of Mercer's U.S. Responsible Investment Practice.

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Zurich executive: Captives help create holistic risk management
Business Insurance
Captive insurers function best when working with other insurance market participants such as insurers or brokers, offering organizations the potential for significant benefits as part of a holistic risk management program.

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Why every company needs a robust business continuity program
Forbes
As corporate officers and executives, we have a fiduciary responsibility to our customers and shareholders to ensure that our business will withstand any type of disruption — whether it's a natural disaster, a technical failure, or an interruption like a transportation strike, chemical spill or civil protest.

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As recovery looks weak, stocks take a deep dive
The New York Times
Signs of weakness in the American economy pushed Wall Street to its worst day in an already bad year. The recent catalyst was the release of a survey of the manufacturing industry, which fell in January to its lowest level in eight months. The discouraging manufacturing numbers — and similarly disappointing figures on car sales — were attributed to recent bad weather. But together they were enough to cause concern among investors that talk of a strengthening economic recovery may have been too optimistic.
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Choosing the right storage solution: What you need to know
Business Spectator
The amount of data being stored is growing exponentially. For most companies data is essentially doubling every two years. The speed at which data can be stored, retrieved, used and protected has a massive impact on an enterprise's IT service, and, indeed, is a major factor for the overall success of the enterprise. Companies are looking for ways to keep up with rapid data growth and manage it in a way that adds value to the business rather than increasing risk and cost.
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US winter storm losses build. What about catastrophe bonds?
Artemis
Winter storms are a covered peril in a number of outstanding catastrophe bond transactions currently. With the U.S. having suffered from a number of severe spells of winter weather in recent weeks, losses are mounting and some bonds may begin to look exposed.
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Missed last week's issue? See which articles your colleagues read most.

    To avoid risk in your global supply chain, consider these points (Smart Business)
In risk management, progress is paramount (ebizQ)

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