You are the chief information officer (CIO) of a large corporation. Your company has been relying on a single vendor for its entire IT infrastructure for the past five years. Recently, this vendor has been facing financial difficulties and there are rumors of a potential bankruptcy. What should be your immediate course of action?
1) Start diversifying your vendor portfolio to ensure business resilience.
2) Negotiate lower prices with the current vendor due to their financial difficulties.
3) Immediately switch to another vendor to avoid potential disruptions.
4) Ignore the rumors and continue business as usual.