The changing world of strategic risk
Effective risk management has always been the cornerstone of the most successful companies. But in today’s risk-filled business environment, it can be difficult for executives to assess whether their plans and strategies can be executed as anticipated.
One of the main reasons is that strategic risks—those risks that either affect or devolve from business strategy decisions—can strike more quickly than ever before. The catalyst behind that reality is frequently new, rapid-fire business trends, as well as technological
innovations such as social media, mobile and big data. Companies that fall behind on the innovation curve may quickly fall prey to innovation’s evil twin-disruption. That is just one of the several reasons why managing strategic risk has become such a high priority for many executives, worldwide. The fact is that today risks strike at a much greater speed. That is why companies have to be better
prepared and ready to respond much faster than they might have been even just three or four years ago.
In a recent study, we uncovered significant and compelling evidence that many businesses around the world are adopting a new view of the risk universe. The study, conducted in spring 2013 by Forbes Insights, on behalf of Deloitte, was a global survey of strategic risk management practices at more than 300 major companies worldwide. In the survey, Deloitte had one major objective: to better
understand how businesses can manage strategic risk more effectively—both now and in the future.
Inside magazine issue 3, February 2014
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).