Cyber-attacks remain a top threat, followed by data breaches and unplanned IT and telecom outages, according to a new report.

Risks faced by an organisation can range from minor threats to large crises that can threaten your reputation and ultimately your business, said the fifth annual BCI Horizon Scan research study produced in association with BSI (British Standards Institution).

The report assesses business preparedness and measures the feelings of business continuity and resilience professionals from 568 organisations globally. It provides an insight into the top 10 threats facing businesses today.

“2015 saw a number of high profile businesses across the world hit by cyber-attacks, so it is reassuring to see that so many are aware of the threat it poses. Our research finds it to be the top concern in six out of the eight regions surveyed” said Theuns Kotzé, regional managing director, BSI Middle East and Africa.

Being prepared is critical for an organisation to mitigate risks, by having a comprehensive risk management system in place this will help minimise the impact on a company’s reputation, business and brand, he added.

“However, we remain concerned to see that businesses are still not fully utilising the information available to them to identify and remedy weaknesses in their organisational resilience. It is difficult to conceive that either investors or employees will be reassured that the leaders of the organisations they trust are making strategic decisions without an effective evaluation of risk.

“Ultimately, organisations must recognise that, while there is risk, and plenty of it, there is also opportunity. Taking advantage of this means that leaders can steer their businesses to succeed by not just surviving, but thriving” said Kotzé. – TradeArabia News Service