Hackers Exploit Coronavirus Fears; Phishing Emails Up 667%

For a free ISO 27001 - Information Security Management System - Gap Analysis Checklist, click here. The number of phishing attacks on a newly-isolated and remotely working global population has skyrocketed by more than 600% according to the latest data. The analysis comes courtesy of Barracuda, who purports that since the end of February, the rate of phishing scams has jumped 667% as hackers look to exploit the uncertainty, panic and fear surrounding the pandemic. The firm recorded 137 ‘incidents’ in January, which rose to 1188 for the month of February, and has topped 9116 attacks so far this month alone. According to reports, “the attacks used widespread awareness of the subject to trick u

Coronavirus Set To Reshape Global Supply Chains

The economic impact of the coronavirus is expected to permanently shift global supply chains, experts are forecasting, after shortfalls in traditional models were exemplified by the pandemic and subsequent market turmoil. Reports are emerging that a model of decentralised, local manufacturing is set to emerge and possibly even replace the global supply chain model, after a collaboration of architects and engineers produced an open-sourced project to produce face shields and protective equipment for hospital workers illustrated the concept in practice; forgoing the normal model of a supply chain. This has been echoed by Larry Fink, arguably one of the most powerful figures in the financial wo

The Formula & Five-Day Plan Giving Organisations Hope

This is a time in history that will reward organisations that can adapt on the fly, and punish organisations that fail to see the need to transform their operations in the face of a pandemic that is currently pushing a number of societal norms to the fullest extent. I’ve recently come across a playbook from a well-known business academic, charting a course for organisations with a low or negative cash-flow to navigate the coming weeks and months. The author in question is Steve Blank, a Silicon Valley entrepreneur renowned and recognised for developing the theory behind the lean start-up model that has become the bedrock philosophy for organisations starting out without much of a management

Virgin Media Liable up to $9 Billion in Data Breach Fallout

Click here for a free ISO 27001 - Information Security Management System - Gap Analysis Checklist. Reports are emerging that the Virgin Media group could be smacked with a huge compensation bill after a data breach that saw the personal information of just under a million customers freely accessible online. Earlier this month, Virgin Media, which is owned by a US company called Liberty Global sent an email to its customers that a database of personal information on more than 900,000 users had been listed online and was easily accessible, dating back to April of 2019. The company admitted to customers that “the information has been recently accessed,” by a third-party that likely used the per

Cybercriminals Netting $1.5 Trillion A Year

For a guide on how to implement an ISO 27001 - Information Security Management System - in your organisation, please click here for more information Tech researchers have published a report after finding that cybercriminals are cashing in more than $1.5 trillion a year, outpacing the likes of Facebook, Microsoft, Amazon and Walmart’s profits combined. The report comes courtesy of Atlas VPN who looked at data of crime that involved a computer playing a key role, stating that cybercrimne’s annual revenue is 3 times bigger than commerce giant Walmart’s profit for the year which was $514 billion. “Sorting cybercrime into groups by revenue, illegal online markets take first place with $860 billio

The Difference Between a Good & Bad Place to Work

The following is based on an extract from Ben Horowitz’ “The Hard Thing About Hard Things” There’s a number of things separating good organisations from their great counterparts, and there’s an even larger number of behaviours that separate a great place to work with a bad one. Some are obvious, while some sit in the backroom, lurking away and slowly eating your company’s culture and profitability. Over the past few days, I’ve been reading through Ben Horowitz’s latest book, “The Hard Thing About Hard Things,” which is an absolute must-read considering the recent events and subsequent testing of businesses around the globe. In chapter five: “Take care of people, the products, and the profits

The Basics of ISO 9001 Explained

This article is based on an hour-long webinar on the Best Practice TV Youtube channel which you can access here, where I take you through an in-depth look at the business hierarchy of needs. Subscribe to our Youtube channel for early access to our videos, as well as a notification when we’re going live with one of our comprehensive webinars. In the most simple terms, ISO 9001 is the management system designed to give structure to the promises you’re making to your customers. As an organisation, we make promises to our customers regardless of your industry, and the ISO 9001 framework is a way to design and implement a set of policies that make sure these promises will stand the test of time,

The Business Hierarchy of Needs Explained

This article is based on an hour-long webinar on the Best Practice TV Youtube channel which you can access here, where I take you through an in-depth look at the business hierarchy of needs. The business hierarchy of needs is based on a model first presented by Abraham Maslow, which is a motivational theory that separates different human needs accordingly in a five-stage model. The model states that certain needs that are at the base of the pyramid, the basics such as food, water, warmth and rest need to be achieved before you can move further up the pyramid. This is fairly straightforward, considering that you can’t move to things like belongingness or self-actualisation without the most ba

Business Continuity Explained Step-By-Step

ISO 22301 is one of the best ways for organisations to prepare their disaster recovery plans and business continuity plans in the wake of an existential crisis. It will give you the building blocks for your crisis management plan, which will help you minimise the damage of a disaster internally, in your supply chain or in your financials. The next few weeks and months are set to present a range of challenges to businesses worldwide, so let's talk about how organisations can better protect their organisation and its employees as it navigates a particularly challenging time in human history. We recently published an hour-long webinar on the topic, which we encourage you to check out, with Best

Supermarkets Now Allowed to Work Together to Keep Shelves Stocked

Key Points: The ACCC has flipped on its anti-collusion rules to allow supermarkets to streamline deliveries. The watchdog will ensure that supermarkets do not conduct 'price gouging' Aldi, Coles, Woolworths and IGA will be able to work together to ensure a stable supply of groceries. The Australian Competition and Consumer Commission (ACCC) has reversed one of its key policies on collusion that will now allow supermarkets to work together in the face of growing demand from panic buying to keep shelves stocked, and the public calm. Previously, the ACCC had a strict set of rules in place to ensure that supermarkets and suppliers were not able to work together on supply and pricing, otherwise k

Two Common Mistakes in Crisis Management

“Let us never negotiate out of fear. But let us never fear to negotiate” John F. Kennedy. Today we’re going to be unpacking crisis negotiation, and more specifically, two of the most potentially dangerous - yet commonly practiced - behaviours while navigating through difficult waters, through the eyes of business academic and Dean of the Pardee School of Global Studies at Boston University, Adil Najam. In a recently published piece, Najam writes that the recent events and downward spiral of the world’s economy has caused many to panic, and has “heighten[ed] the need for people to debate and decide on potential solutions together.” “During a negotiation, it would be wise not to take anything

State-By-State Support for Small Businesses Explained

The COVID-19 virus has in short order presented the worldwide economy with an existential threat. In response, federal and state governments have spurred a number of stimulus packages into action, in the hope that small businesses can weather the storm and continue to operate as a vital function of the Australian economy. It can be tricky to find exactly what this means for your state or territory, as well as your industry, so we’ve listed them in our report below. New South Wales For Australia’s most populous state, New South Wales has elected to waive payroll tax up until the end of the financial year, with a high likelihood this will be extended past the three-month mark. This payroll tax

How You Can Help Small Business Right Now

Times are tough in the economy right now, moreso for small business as a raft of necessary measures to control a pandemic are put in place. We've put together a brief report on how you can continue to support small business from isolation. Peter Strong, a spokesman from the Small Business Council of Australia has said that it’s important to “make sure that when we come out of this, the community looks the same as it did on the way in,” but how exactly can we help contribute to that while isolating, practicing social distancing and with the retail and hospitality industries being radically transformed? The ABC’s Peta Fuller and Emily Stewart write that “with many states opting to shut down no

The Perfect Time To Address Customer Needs

This is a time that your organisation needs to go back to basics- and a fundamental part of this is to address the needs of your customers in tough times. Sometimes changes come naturally. Other times, they’re forced upon us. With all the negative sides of the pandemic in business, there is a silver lining for organisations that are willing to be proactive about improvements in their organisation, and that is to leverage customer needs to optimise the organisation’s operations. Very few people and organisations alike have been immune from the economic impact that the COVID-19 virus is having worldwide, and while there’s a lot of negatives that will surely rock the boat in the coming weeks an

Business Continuity Made Easy: ISO 22301

For more information on the Best Practice Training Academy, click here. It’s been around for a number of years now, but never has it been so timely to check out ISO’s standard 22301:2012 - Societal Security - Business Continuity Management Systems. It’s a standard designed to help organisations of all shapes and sizes to be better prepared and more confident in the face of a sudden crisis, to help them develop a set of policies that will help them weather the storm. In ISO’s words, “incidents can disrupt an organisation at any time and applying ISO 22301 will ensure that organisations can respond and continue its operations. Incidents take many forms ranging from large scale natural disaster

Explained: Latest $66 Billion Stimulus Aimed At Business and Workers

Key Takeaways: Small businesses now eligible for $20,000 - $100,000 in tax-free cash injections Employers can claim 100% of payroll tax withheld Instant asset write-off scheme raises from $30 to $150,000 JobSeeker payments doubled Nearly 10% of Australia’s GDP pledged to stimulus measures The Federal Government has unveiled its latest financial stimulus package designed to keep small and medium businesses afloat, and their workers employed at the economy struggles to cope with the coronavirus pandemic. The ABC has termed it an “economic lifeline” as small, medium and large-sized businesses prepare for further lockdown measures that will slow down the economy. In the second stage of the gover

The Peacetime vs Wartime CEO

There are times that a leader needs to wear a different hat to ensure their organisation can weather the storm; let’s talk about the peacetime and wartime model of leadership. In light of the recent economic shake-up, we’re going to turn to Ben Horowitz, the author of “The Hard Thing About Hard Things”, a particularly relevant book considering recent events. The book centers on how to build a business when there are no easy answers, and how to maintain momentum in the face of a changing business landscape. Ben Horowitz was the co-founder and CEO of Opsware, a venture-capital firm that was acquired by Hewlett-Packard for $1.6 billion. He’s endured peacetime in business, as well as wartime, an

Emissions Plummet Amid Coronavirus Shutdown

For your free ISO 14001 Environmental Management System Gap Analysis Checklist, please click here. Air pollution and CO2 levels around the globe have dropped significantly in the past few weeks as commuter travel and manufacturing ground to a halt in the wake of the coronavirus. According to a report from The BBC, “early results showed carbon monoxide mainly from cars had been reduced by nearly 50% compared with last year,” after analysing data from New York City, carbon dioxide levels have also dropped dramatically. Traffic levels have been down around 35% in New York City compared to 2019 data, with researchers at Columbia University calling it an unprecedented reduction in emissions; the

Privacy Commissioner’s Guidelines For Coronavirus Information Sharing

For your free ISO 27001 Information Security Management System Gap Analysis Checklist, click here The Office of the Australian Information Commissioner (OAIC) has issued a reminder to organisations that despite extraordinary circumstances, they still have an obligation to handle personally identifiable information (PII) with the utmost care. The OAIC wrote that while they “appreciate the unprecedented challenges Australian Government agencies and private sector employers are facing to address the spread of COVID-19,” organisations must still adhere to the Privacy Act 1988. While the Privacy Act allows for employees to operate on a remote basis, the Information Commissioner reiterated that th

What does the Government’s Stimulus Package Mean for Australian Small Businesses?

Prime Minister Scott Morrison has announced the Coalition’s $23 billion stimulus package- but what exactly does it mean for small businesses? Let’s unpack it. Morrison told reporters in a press conference in Canberra earlier this week that “we’re supporting 690,000 businesses that employ Australians because, as I said, it’s about keeping Australians in work.” He added that “we’re going to do everything we can to ensure they’re best positioned to bounce back strongly on the other side.” “The 4.7 billion of demand stimulus that’s going into the economy is going to be supporting sole trader businesses,” he said. “It’s designed to actually improve cash flow that is going in the economy and that,

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