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Erudite Blog

On January 1, 2019, Erudite Risk published a report called “North Korea Crisis, 2019 Forecast.”

The takeaway line for this report was simply this: 2019 is going to look more like 2017 than 2018.

We based this prediction, made in December of 2018, on several factors including the underlying logic driving the crisis, the current goals of each of the parties, the history between the parties, and key leadership personalities.

Now five plus months into 2019, we see nothing that would indicate that this prediction isn’t coming true. With each passing development, we see the tyranny of the underlying crisis logic reapplying itself to a situation that has been largely immovable for more than 65 years.

Though the data breaches that make the biggest news all involve large organizations and high numbers of data items, SMEs are actually at greater risk of information security breaches than large corporations because they often don’t deploy the latest software/hardware security technologies and don’t have access to the expert human resources needed to secure their organization and keep it that way. Furthermore, when a breach does occur SMEs are less likely to know that there has been an incident or that they have suffered a data loss. 

Risk management is the process of understanding the potential for damage to the organization and its stakeholders, measuring that potential, and mitigating it using appropriate cost/benefit filtered means.

 

Business continuity is the process of maximizing resilience and the organization's ability to weather crises and bounce back as a going concern.

For many businesses, entering new markets is not an option. It is a market imperative for continued survival in our ultra-competitive world today. Unfortunately, establishing a foothold and thriving in new markets is easier said than done. Besides all of the increased risk we face when we do so, there are also some tough competitive realities we have to come to grips with. 

The following 25+1 principles outline some of the many concerns and some of the ways to address them. 

Keeping Data You Don’t Need Is a Recipe for Disaster

Recent revelations about the scope of Chinese hacking attacks on Korean small and medium enterprises (SMEs), may have been surprising to many, but to information security experts it is not particularly surprising news.

This article was first published on the online version of Business Korea Magazine (www.businesskorea.co.kr), on July 29, 2014.