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Home   Membership   Education   Events   Resources   External Affairs      September 02, 2014

 

Disaster recovery and business continuity: Putting your plan in place
Data Center Knowledge
East Coasters will remember where they were when the lights went out in 2003. Fifty million people lost power during the great power outage due to a falling branch in Ohio and a chain of events — including "deficiencies in corporate policies, lack of adherence to industry policies and inadequate management" that ultimately resulted in the blackout. Looking across the Hudson River to New York City from New Jersey, there was nothing but darkness. So, the most important question to ask is, where would your business be without electricity?
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Apple bans 'hazardous' chemicals in supply chain following pressure from campaigners
Supply Management
Apple has banned the use of two chemicals in factories making its products following criticism from campaign groups. The technology company carried out a four-month investigation at 22 factories in China before announcing a ban on the use of benzene and n-hexane, which are commonly used in cleaning agents.
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Decisiveness drives success for companies
Greg Witz
Some people really struggle with making decisions. Some people just can't make up their minds. Neither can some companies. But if they knew what their indecision was costing them, would they change how they operate? In 2001, Ram Charan, a former faculty member at Harvard Business School wrote an article titled, "Conquering a Culture of Indecision." In it, he talks about companies that have successfully created frameworks for decisive action.
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Fighting supply chain fraud requires strategy, commitment
The Wall Street Journal
It's not enough just to manage your own company's supply chain anymore. With the long arm of regulators gigging companies for problems not only in their own supply chains, but those of their suppliers and their suppliers' suppliers, big multinational enterprises have become more aware and more active in getting control of what is happening throughout their networks.
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Employer sued over wellness program
Employee Benefit Adviser
In order to avoid costly litigation, employers need to carefully design their wellness program — especially when they reward participants with incentives and discounts on their medical coverage. The EEOC recently sued a Wisconsin employer, claiming the penalty the employer imposed for nonparticipation in its program was too significant. The EEOC also determined the wellness requirements were involuntary under the Americans with Disabilities Act.
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Napa, California, earthquake could cost insurers $2.1 billion, but catastrophe bonds likely safe
Artemis
Estimates of the insured loss from rthe 6.0-magnitude earthquake that struck Napa, California, are rising, with the highest estimate now calling for an economic loss of $4 billion or more and an insurance industry loss of $2.1 billion. That's much higher than the $1 billion plus economic loss estimate from the USGS and the $500 million to $1 billion insured loss estimate from risk modeller EQECAT, demonstrating the uncertainty inherent in a catastrophe event like this.
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Balancing Care and Costs
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Banks admit growing cyberattack risks
USA Today
JPMorgan Chase this year will spend $250 million and dedicate 1,000 people to protecting itself from cybercrime — and it still might not be completely successful, CEO Jamie Dimon warned in April. "Cyberattacks are growing every day in strength and velocity across the globe. It is going to be continual and likely never-ending battle to stay ahead of it — and, unfortunately, not every battle will be won," Dimon said in his annual letter to shareholders.
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LinkedIn's $6 million payout offers lessons on tracking time
Business Management Daily
LinkedIn has built its entire business model on the idea of making the right connections. However, the company apparently has failed to connect with the Department of Labor's rules on what constitutes an exempt employee under the Fair Labor Standards Act. The result: The business-oriented social media site was targeted for a DOL investigation and agreed to pay nearly $6 million in overtime back wages and liquidated damages to 359 former and current employees in four states. That averages to about $16,000 per affected employee.
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Decisiveness drives success for companies
Greg Witz
Some people really struggle with making decisions. Some people just can't make up their minds. Neither can some companies. But if they knew what their indecision was costing them, would they change how they operate?

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Managing employee personal crises
Supply Chain Digest
For most of us, life is full of everyday challenges. Some are able to deal with the vulgarities of life without much trouble. But for others it's not so easy. The recent suicide of actor/comedian Robin Williams is a shocking reminder of just how troubling and difficult life's challenges can be for some.

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Experts urge entrepreneurs to acquire risk management skills
BusinessDay
Following the continual demise of businesses in the small- and medium-scale category, experts have tasked entrepreneurs to acquire risk management skills to ensure that their businesses outlive them.

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Top health data breaches caused by hackers
Employee Benefits Adviser
The HHS Office for Civil Rights website of large data breaches lists at least 89 major incidents of hacking, which have become much more prevalent during the past two years. This article takes a look at some of the largest.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    CIPS Risk Index: Global supply chain risk at 18-month low (Supply Management)
First wellness program firing suit filed by US agency (Bloomberg)
Spike in risk management contractor demand (Brookson)

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