The Top Risks for Organizations in 2017

By Dennis McCafferty  |  Posted 12-19-2016 Email

If fears about the year ahead are keeping you up at night, you're in good company: Corporate board members and executive leaders have plenty on their minds these days, according to a recent survey from Protiviti and the Enterprise Risk Management (ERM) Initiative at North Carolina State University's Poole College of Management. The accompanying report, "Executive Perspectives on Top Risks for 2017," reveals that concern about economic conditions affecting key markets has emerged as the biggest potential source of risk. Survey respondents also have misgivings about regulatory changes and scrutiny, disruptive technology and, of course, cyber-attacks. To survive, CIOs will have to work with fellow C-suite executives and board members to proactively identify the top risks and threats to strategic goals, and respond effectively and rapidly. "Entities in virtually every industry and country are reminded all too frequently that they operate in … an increasingly risky global landscape," according to the report. "Rapidly escalating concerns about political and economic stability, data breaches and related cyber-attacks, and continued incidents of terrorism vividly illustrate the reality that organizations of all types face risks that can suddenly propel them into global headlines, creating complex enterprise-wide risk events that threaten brand, reputation and, for some, their very survival. Boards of directors and executive management teams cannot afford to manage risks casually on a reactive basis, especially in light of the rapid pace of disruptive innovation and technological developments in a digital world." (Note to readers: We have ranked the risk factors in order of those presenting the greatest potential for "significant impact," according to survey respondents.) A total of 735 global corporate board members and executives took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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