2017’s Top Business Risks- Valutrics

If fears about a year forward are gripping we adult during night, you’re in good company: Corporate house members and executive leaders have copiousness on their minds these days, according to a new consult from Protiviti and a Enterprise Risk Management (ERM) Initiative during North Carolina State University’s Poole College of Management. The concomitant report, “Executive Perspectives on Top Risks for 2017,” reveals that regard about mercantile conditions inspiring pivotal markets has emerged as a biggest intensity source of risk. Survey respondents also have misgivings about regulatory changes and scrutiny, disruptive record and, of course, cyber-attacks. To survive, CIOs will have to work with associate C-suite executives and house members to proactively code a tip risks and threats to vital goals, and respond effectively and rapidly. “Entities in probably each attention and nation are reminded all too frequently that they work in … an increasingly unsure tellurian landscape,” according to a report. “Rapidly sharpening concerns about domestic and mercantile stability, information breaches and associated cyber-attacks, and continued incidents of terrorism vividly illustrate a existence that organizations of all forms face risks that can unexpected propel them into tellurian headlines, formulating formidable enterprise-wide risk events that bluster brand, repute and, for some, their really survival. Boards of directors and executive government teams can’t means to conduct risks accidentally on a reactive basis, generally in light of a fast gait of disruptive creation and technological developments in a digital world.” (Note to readers: We have ranked a risk factors in sequence of those presenting a biggest intensity for “significant impact,” according to consult respondents.) A sum of 735 tellurian corporate house members and executives took partial in a research.

Economic Uncertainty

72% of the board members and executives surveyed are concerned that economic conditions in the markets they serve may restrict growth opportunities.

Ominous Oversight

66% cited prospects for heightened regulatory changes and scrutiny as a top risk, because they can affect the manner in which products and services are delivered.

Passing Lane

63% are concerned that the rapid speed of disruptive innovations and/or new tech in their industry may outpace their company’s ability to compete and/or manage risk, without making major changes to the business model.

Destructive Force

60% of the respondents fear that their organization may not be sufficiently prepared to manage cyber-threats that can significantly disrupt core operations and damage their brand.

Protection Plan

57% cited the need to ensure privacy, identity management, information security and system protection as a top risk, as these measures may require vast resources.

Market Shift

57% admitted that sustaining customer loyalty and retention may be increasingly difficult due to evolving consumer preferences and demographic shifts in their existing customer base.

Talent Targets

55% of the respondents are concerned that their company’s succession challenges and ability to attract and retain top talent may limit the achievement of operational targets.

Avoidance Environment

55% fear their organization’s culture may not encourage the timely identification of risk issues that have the potential to affect core operations and the accomplishment of strategic objectives.

Inflexible Position

54% of the respondents said resistance to change may restrict their company from making necessary adjustments to the business model and core operations.

Topsy-Turvy

53% of the corporate board members and executives cited anticipated volatility in global financial markets and currencies as a significant risk.