“What challenges are likely to affect your company in 2009 and beyond? The credit crunch aftershocks and the deepening global recession, rank as the most important business risks for 2009, displacing regulation and compliance from the top spot. Green initiatives, competition from new entrants, human capital issues, and reputational risk all rose in the new Ernst & Young report.
It identifies the top 10 global business risksby analyzing the top risks identified for some of the world’s most important industry sectors. It also highlights the risks “below the radar” that could also have a significant impact over the next three to five years.
The top 10 risks identified (2008 rankings in parentheses) are:
1. The credit crunch (2)
2. Regulation and compliance (1)
3. Deepening recession (New)
4. Radical greening (9)
5. Non-traditional entrants (16)
6. Cost cutting (8 )
7. Managing talent (11)
8. Executing alliance and transactions (7)
9. Business model redundancy (New)
10. Reputation risks (22)
The report was produced by Ernst & Young in collaboration with Oxford Analytica, and sought the views of more than 100 analysts from around the world and more than 20 academic disciplines.