Organizations can no longer afford a reactive approach to risk management


The top 10 risks for 2021

Survey respondents were asked to rate 36 macroeconomic, strategic and operational risks, including new risks that emerged this year related to the pandemic and social justice. The top 10 risks identified for 2021 are as follows:

  • Pandemic-related policies and regulation impact business performance
  • Economic conditions constrain growth opportunities
  • Pandemic-related market conditions reduce customer demand
  • Adoption of digital technologies require new skills or significant efforts to upskill/reskill existing employees
  • Privacy/identity management and information security
  • Cyber threats
  • Impact of regulatory change and scrutiny on operational resilience, products and services
  • Succession challenges, ability to attract and retain top talent
  • Resistance to change operations and business model
  • Ability to compete with “born digital” and other competitors

Board members and C-suite executives around the globe are most concerned in 2021 with risks associated with COVID-19-related government policies and regulations, economic conditions that may restrict growth and market conditions that may continue to impact customer demand, according to a survey from Protiviti and North Carolina State University.

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