Exploring strategic risk
Strategic risks – those that affect or are created by business strategy decisions – are critical to the growth and performance of your business. According to a recent survey conducted by Forbes Insights on behalf of Deloitte, 81% of respondents reported having an explicit focus on managing strategic risk, with reputation cited as the #1 risk they are concerned about. Meanwhile, only 13% of respondents indicated that their risk management program supports their ability to develop and execute business strategy. So, what are leading companies doing to manage strategic risk – and how are they preparing for the future?
“When we develop a strategy we think about the risks associated with it, but also what [business] risks are minimized by following that particular strategy.” - Reto J. Kohler, Managing Director, Head of Strategy, Corporate & Investment Banking, Barclays
Deloitte's new survey report offers a clear view of how companies view and manage the risks that affect their business strategy, based on recent survey results. See answers to questions such as:
- Which risk areas had/have/will have the most impact on your business strategy?
- Who primarily determines your company's approach to managing strategic risk?
- Has your approach to managing strategic risks changed in the last three years? How?
- Which technology enablers or disruptors do you believe may threaten your business model?
See how you stack up
Our strategic risk quiz is an 8–question benchmarking tool to help you see how your company stacks up against those companies around the world who participated in our study. It takes about 3 minutes, is totally anonymous, and can be taken on and shared from most mobile devices, including iPads and other tablets. The results are generated instantly and appear as a customized infographic – which can even be filtered so clients can compare themselves to industry and geography results.
About the survey
The findings in this report are based on a global survey conducted in the spring of 2013 by Forbes Insights, on behalf of Deloitte. It includes insights from more than 300 respondents from the Americas (33%), Europe/Middle East/Africa (33%), and Asia/Pacific (34%). Nearly all respondents were C-level executives (263), board members (22) or specialized risk executives (21). Surveyed companies came from all five major industry sectors (consumer/industrial products, life sciences/healthcare, technology/media/telecommunications, energy/resources and financial services), and all had annual revenues in excess of US$1 billion (or equivalent).