According to analysis by research firm Forrester, Apple was alone among corporate giants in foreseeing the pandemic risk several years ahead of the global COVID-19 outbreak.
Lindsay Clark for The Register:
“COVID-19 wasn’t a black swan; any infectious disease expert could have told you a pandemic was inevitable. Yet when we reviewed the Fortune 50’s current 10-K reports, we saw that while 50 per cent mentioned a pandemic in their risk profiles for investors, they classified it as an ‘act of God’. Only Apple had insured the downside,” it said.
Attitudes among all vendors will change as a result of the COVID-19 outbreak, which has swept across the world… Forrester said it sees firms bringing “islands” of risk management in cybersecurity, IT, and operations under the umbrella of “ERM” – enterprise risk management. Firms will invest in supply chain risk management, intelligence, mapping, and visibility while CIOs create a “dependable-by-design approach for all IT services, regardless of hosting model or location” in the medium term, the report said.
MacDailyNews Note: For one example of many of Apple noting the possibility of a pandemic affecting business operations, here’s Apple’s Form 10-K filed on October 30, 2013:
The Company’s business may be impacted by political events, war, terrorism, public health issues, natural disasters and other circumstances.
War, terrorism, geopolitical uncertainties, public health issues, and other business interruptions have caused and could cause damage or disruption to international commerce and the global economy, and thus could have a material adverse effect on the Company, its suppliers, logistics providers, manufacturing vendors and customers, including channel partners. The Company’s business operations are subject to interruption by, among others, natural disasters, fire, power shortages, nuclear power plant accidents, terrorist attacks and other hostile acts, labor disputes, public health issues, and other events beyond its control. Such events could decrease demand for the Company’s products, make it difficult or impossible for the Company to make and deliver products to its customers, including channel partners, or to receive components from its suppliers, and create delays and inefficiencies in the Company’s supply chain. Should major public health issues, including pandemics, arise, the Company could be adversely affected by more stringent employee travel restrictions, additional limitations in freight services, governmental actions limiting the movement of products between regions, delays in production ramps of new products, and disruptions in the operations of the Company’s manufacturing vendors and component suppliers. The majority of the Company’s research and development activities, its corporate headquarters, information technology systems, and other critical business operations, including certain component suppliers and manufacturing vendors, are in locations that could be affected by natural disasters. In the event of a natural disaster, the Company could incur significant losses, require substantial recovery time and experience significant expenditures in order to resume operations.
I see the foresight but what did they do to insure against the risk? Nothing is mentioned as to actual measures.
Yeah, why didn’t Apple stop that damn virus in its tracks and spare us all the hassle. 🙄
Because Apple never could stop viruses. That was bullshit!
Really, well I must have been really lucky for the last 34 years then ! When I’ve had the misfortune to use PC’s I’ve never managed more than a couple of months before viral attacks threaten the machine. Let’s hope I just stay lucky with my Macs eh?
because it’s the government job to do so not Apple or any other company.
To be fair, viruses have never been Apple’s “speciality”. We should ask the folks at Microsoft, since they deal with viruses on a daily basis! 😛
I hope you guys are kidding, right? You do know that nothing can stop this virus, right? All you can do is stay as healthy as possible. If you are in a vulnerable category, like anyone keeping safe, stay clear of virus. And if you are not in any risk category, the chance of you getting seriously ill is very low (though nothing is 100%). All we can then do is to let this thing takes its course.
BTW, the article is NOT about Apple doing something to stop the virus but rather to plan for business interruption in such a case.
And again, I see nothing mentioned of what Apple did to mitigate the business risk.
What part of “insurance” do you not understand? Apple paid extra to remove the “act of God” exclusion.
WRONG We ALL KNOW that if Hilderbeast or dementia Joe were in charge, they would have stopped it. Isn’t stupidity, gullibility and mental illness fun??
I’m Joe Biden and I’m running for Senate
++1
I’m Donald J. Trump, and I’m Orange!
No, you’re applecynic, and you’re still a phuckwitt. A really big and nasty one, too.
I’m Barrack Obama, and according to Joe Biden, I’m clean!
You forgot…I added; “and he speaks well.”
Censor check
Apple handled the virus good; systemic and deliberate. Just like their slave labor partner. Long live Carl Marx ;0
https://m.youtube.com/watch?v=Fh1jkChzd20
And if you don’t comply with the vocational training center… great job Apple; Way to spread your enlightenment of “inclusion and diversity”. Way to stand for minorities of religion and color.