We find ourselves in a more uncertain time than in many years. One of our neighbouring countries has launched an attack on another nation, and the threats to our own country are steadily increasing. While the likelihood of a military attack on Norway is low, the hybrid threats and activities against Norway have significantly escalated since Russia’s invasion of Ukraine in February 2022.
Norwegian businesses are coveted targets for Russia. Russia is desperately seeking high technology and is likely attempting to create insecurity and instability in Norway. Russia has an interest in trying to influence Norway’s ability and willingness to support Ukraine.
Recently, the Prime Minister announced that the Norwegian Armed Forces have raised their readiness level and implemented measures to safeguard Norwegian sovereignty.
Unfortunately, there are limitations to what the Armed Forces can do in the current situation, beyond increasing presence and vigilance and being prepared to handle various potential situations. The Armed Forces have limited capacity to secure Norwegian businesses. Norwegian companies must take responsibility for their own security as best they can, and there is indeed much that businesses can do. It is not particularly demanding either.
There has been much focus on the threat of cyberattacks, and there is still a significant need in this regard. However, it is just as important for all Norwegian companies, whether small or large, to conduct thorough risk assessments to understand their vulnerabilities and how they can best protect themselves. How can they reduce the risk of physical thefts? How can they mitigate insider threats? What partnerships does the company have, and how would it be affected if something happened to those partners? How will the company handle various incidents?
Have contingency plans been established to cover potential scenarios? Is the crisis management team defined, and do these individuals know they are part of the crisis management team, and, most importantly, have they been trained?
These are some of the questions that every business should be asking themselves in these times. It’s impossible to predict exactly what will happen, but it is entirely possible to take actions to reduce risks and be better prepared to handle potential situations that may arise.
We at Agenda Risk have a wealth of expertise in conducting risk assessments and can assist in developing a framework that better secures your business, as well as with conducting emergency preparedness exercises.
It’s difficult to effectively manage a crisis if you are ill-prepared, and we strongly recommend reviewing your emergency preparedness plans now!
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