Apple was the only Fortune 50 company to foresee and ensure that the risk of a pandemic could occur ahead of the COVID-19 outbreak. That’s according to a recently released report by research firm Forrester (via The register).
Apple COVID-19 Pandemic Warnings
COVID-19 was not a black swan; any infectious disease expert could have told you that a pandemic was inevitable. Yet when we looked at the current Fortune 50 10-K reports, we saw that if 50% mentioned a pandemic in their investor risk profiles, they categorized it as an “act of God.” Only Apple had ensured the decline.
Indeed, Apple’s annual reports now seem rather prescient. In its Form 10k for the fiscal year ended September 24, 2016, the company said it “may be affected by political events, war, terrorism, public health issues, natural disasters and other disruptions. activity ”. These explicitly included a pandemic:
If major public health issues, including pandemics, arise, the Company could be affected by tighter restrictions on employee movement, additional limitations in freight services, government measures restricting the flow of products between regions, delays in production ramps for new products, and disruptions in the operations of the company’s manufacturing suppliers and component suppliers. The majority of the Company’s R&D activities, its head office, informationon technology systems and other critical business operations, including certain component suppliers and manufacturing suppliers, are located in locations likely to be affected by natural disasters. In the event of a natural disaster, the Company could incur significant losses, require substantial recovery time and incur significant expenses to resume operations.
Almost identical warnings appeared in equivalent documents in the years that followed.