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6. Business interruption
While business interruptions typically conjure up the image of major disasters that create havoc and impact whole communities, such as hurricanes, earthquakes or terrorist attacks, one cannot ignore those occurring on a smaller scale that might not make headlinesa power outage or water main break in the immediate area, fire in a room of a building, a bomb threat, or a workplace violence incident. Organizations must effectively address this risk by identifying all potential threats to their business and evaluating their mitigation options for each threat.
5. Failure to innovate/meet customer needs
Oftentimes, companies equate innovation with technological upgrades or massive (and often costly) research and development projects, but experts say innovation is more about engaging employees at every level to think creatively about the design of powerful futures. To promote innovation, companies should foster an innovation culture from the CEO down.