A single point of failure, SPoF, in your business can literally devastate your business overnight yet many business leaders spend little or no time at all protecting their business against these risks!
In 1995, a rogue trader brought down Barings Bank through fraudulent, unauthorized, speculative trading. The bank, which had been established in 1762, had a single point of failure and did not have controls in place to protect itself. It’s SPoF destroyed it!
Similarly, uncontrolled trading of oil futures has crippled more than one oil company in recent years. Other businesses have been bankrupted due to manufacturing shutdowns caused by natural disasters, social uprisings, political unrest, wars, etc.