Does this mean more companies face devastating disruptions of operations due to natural and manmade disasters?
Craighead: Absolutely! Think of it as stepping into a boxing ring — it’s not a matter of if you will be hit by disruption, but how often and how hard. Some companies may face disruption on a weekly or daily basis, but most don’t get the press coverage that hurricanes and worker strikes garner. There are all types of disruptions that can occur at any point: smaller ones may be caused by traffic congestion or even a small fire; a short-duration fire can result in millions of lost dollars. What are examples of natural, manmade and pandemic disasters most people have witnessed within a lifetime? Craighead: The terrorist attacks of Sept. 11 were major not just due to the loss of life but also in business disruption. The West Coast port strike in 2002 basically cost various industries billions of dollars. SARS, Hurricane Katrina, volcanic eruptions, anything newsworthy doesn’t just affect life but supply chains. Even the threat of a disease like H1N1, which didn’t pan out the way they though
