Source: McKinsey&Company
Although the risk environment is growing more perilous and costly, leading companies are blazing a path to resilience and value by embedding strategic risk capabilities throughout the organization.
Today’s corporate leaders navigate a complex environment that is changing at an ever-accelerating pace. Digital technology underlies much of the change. Business models are being transformed by new waves of automation, based on robotics and artificial intelligence. Producers and consumers are making faster decisions, with preferences shifting under the influence of social media and trending news. New types of digital companies are exploiting the changes, disrupting traditional market leaders and business models. And as companies digitize more parts of their organization, the danger of cyberattacks and breaches of all kinds grows.
Toward proactive risk management
An approach based on adherence to minimum regulatory standards and avoidance of financial loss creates risk in itself… top performers deem risk management as a strategic asset, which can sustain significant value over the long term.
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