Enhancing Business Resiliency: Lessons learnt from COVID and Ukraine crises

Enhancing Business Resiliency: Lessons learnt from COVID and Ukraine crises

Synopsis

This session provides an insight on the experiences and lessons learnt from the speaker whilst managing COVID-19 and the Ukraine war, and what opportunities lie ahead for BC practitioners.

Jason Teo, BCCE, Vice President, Business Continuity at Infineon Technologies spoke on this topic.  Click Photo (above) to find out more about Jason.

Facing the Storm

Having experienced the SARS outbreak in 2002-2004, most companies in Asia are correctly concerned when news breakout from Wuhan, China on a potential pandemic flu virus. Readiness plans and exercises were conducted to ensure that employees and managements are familiar on the standard operating procedures and what to do at each alert level. But no one would have expected for the loss of workspaces more than a year. Flights were all grounded and remote work became the new norm. And just when we thought the worse was over and global economy would recover soon, the crisis in Ukraine overshadow all our recovery plans, throwing Business Continuity teams into the lime light again.

When news started to report on Russia troops amassing in Feb 2022 and the growing unease in media reports, it was not surprising that many was caught off guard when Putin ordered troops on Feb 21 to move into Luhansk and Donestsh, located at Eastern Ukraine. Companies who were making plans for business recovery hastily make plans to evacuate their expatriates and coped with increased supply chain disruptions arising from the war. Suddenly, all previous risks identified with high impact but low probability are tossed into center stage. What if our power supply is completely cut off, or our IT networks hacked, or more? Who is the owner of the risk and who should initiate the task force to coordinate the contingency plans. Are we ready?

As a Chinese saying goes, 摸着石头过河, that translates to “cross the river by feeling the stones”, let’s hear some of the lessons learnt and what we can learn from each other’s experiences on enhancing the business resiliency of our companies.

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