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Enterprise DR Planning: Disaster Ready Means Ready to Compete

Enterprise DR Planning: Disaster Ready Means Ready to Compete

We usually think of being ready for a disaster as a kind of insurance policy against a low-probability event. This approach treats SMB and enterprise DR planning as necessary, but hardly strategic, and most of us would never consider it as a competitive advantage. We should.

In the spring of 2007, just before the 2008 financial crisis hit, Nassim Taleb presciently published a widely read book called The Black Swan: The Impact of the Highly Improbable. As if reading from a crystal ball, Taleb laid out his thesis that as our global economy scales and becomes more and more complex, we begin to see the unforeseen and unpredictable more and more often. He argued that to be competitive and truly profit from these unpredictable “black swan” events, you have to organize your business strategy to be ready for them, even if they seem very unlikely.

Effective Enterprise DR Planning Includes Cybersecurity, Public Health, and Natural Disasters

Since then we have had at least two of these worldwide seismic events. The most recent, the current pandemic, has been a wake-up call for every business worldwide. Disasters on a global scale do happen and, as it turns out, some businesses have been better prepared to meet the needs of their customers during this event. These companies have not only realized a short-term competitive advantage, but they have secured a firm foundation for their future growth.

But if disasters are unpredictable black swans, how do you plan for them? Taleb shows through a series of examples how important it is to think through the worst kind of ri