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The current political and business landscape is extremely volatile. The result? Companies are increasingly likely to face issues that can damage their reputations, destroy consumer trust, harm employee morale, and impact share price.
You’ve just been alerted to a cyber security breach – sensitive customer data has been published online. In the information age we live in, this is a nightmare scenario for any business.
Top executives in Western firms earn much more than their Japanese counterparts, the multiple usually is 10 or even more. This fact is well known. Japanese CEOs are primarily expected to work for their company and the company`s stakeholders but not for their own wallet. Earning much more than 10 times the average employee salary is perceived as obscene and rarely happens.
In the last month we’ve seen airlines, online retailers and local government suffer breaches in one form or another. So while there’s clearly a pressing need for companies to improve internal resilience and security, coping with the aftermath of a breach is almost as crucial. As many technical experts will tell you – for most it is a matter of when there is a breach rather than when.
We spoke to Tim Rawlins, a senior adviser at the leading global cyber assurance company, NCC Group. Top on his list of priorities: preparation, getting the fundamentals right, and always having a communications adviser on hand during a crisis.
Saying sorry has become popular currency in crisis communications, but if it’s unmatched by action consumers will vote with their feet, and their cash.