Earlier today, we published a report that dissects global risk perceptions of business and technology management leaders. One of the most eye-popping observations from our analysis is how customer obsession dramatically alters the risk mindset of business decision-makers.
Out of seven strategic initiatives -- including “grow revenues,” “reduce costs,” and “better comply with regulations,” -- “improve the experience of our customers” is the most frequently cited priority for business and IT decision-makers over the next 12 months. When you compare those “customer-obsessed” decision-makers (i.e. those who believe customer experience is a critical priority) versus others who view customer experience as a lower priority, drastic differences appear in how they view, prioritize, and manage risk.
Customer obsession has the following effects on business decision-makers’ risk perceptions:
Risk concerns heighten dramatically across several risk types – especially reputational risk. Reputational risk concern more than doubles for customer-obsessed decision-makers, and other risks also see significant increases, including corporate social responsibility (CSR) and sustainability risk, regulatory and compliance risk, and talent and human capital risk.
Critical infrastructure is frequently on my mind, especially the ICS/SCADA within the energy sector. I live in Texas; oil and natural gas are big here ya'll. I'm just a short distance away from multiple natural gas drilling sites. I cannot help but think about the risks during the extraction and transport of this natural gas. North Texas has seen an attempt to bomb the natural gas infrastructure. In 2012, Anson Chi attempted to destroy an Atmos Energy pipeline in Plano, Texas. As a security and risk professional, I wonder about the potential cyber impacts an adversary with Chi's motivations could have.
You remember the tribbles don't you? The cute, harmless looking alien species from the second season of the original Star Trek that turn out to be anything but benign. They are born pregnant and reproduce at an alarming rate. The tribbles threaten the ship, but fortunately Chief Engineer Montgomery Scott is able to transport all of the furry creatures to a departing Klingon ship. The tribbles remind me of technology investments:
You start out small, but before you realize it the technology is everywhere and you are overwhelmed. It ends up in places you never intended.
Like the relaxing purr of the tribbles, the flashing lights of racks and stacks of gear gives us warm comfort at night
Tribbles consume everything, just like the operational requirements of much of our technology investment: resources, budget, and productivity are all devoured.