Five questions on strategic risk
Strategic risk is not new; however, in a world where risks are hastened along by business trends and technological innovations, strategic risk management has taken on new urgency. In fact, according to a recently published global survey of more than 300 companies, conducted by Forbes Insights on behalf of Deloitte, 94% say they aren’t just increasing their focus on managing strategic risks; they are changing how they do it – most often by incorporating strategic risk management into their business strategy and planning processes.
In this issue of Risk Angles, Henry Ristuccia, global leader of the Governance, Risk and Compliance practice, Deloitte Touche Tohmatsu Limited, answers five questions about strategic risk and offers fresh insights on how companies can use strategic risk analysis to both protect and create business value.
This Risk Angle answers the following questions
- How is strategic risk different from other types of risk?
- Why the increased urgency, if strategic risk has always been a part of business?
- How are companies responding to this new focus on strategic risk?
- What was wrong with the old way of managing risk?
- Which strategic risks are the most critical today?1. What shift in cyber security is currently happening?
It also takes a closer look at creating value with strategic risk analysis