The Top Risks for Organizations in 2017
Corporate board members and executive leaders are concerned about economic conditions, regulatory changes and scrutiny, disruptive technology and cyber-attacks and threats.
72% of the board members and executives surveyed are concerned that economic conditions in the markets they serve may restrict growth opportunities.
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.
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.
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.
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.
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.
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.
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.
54% of the respondents said resistance to change may restrict their company from making necessary adjustments to the business model and core operations.
53% of the corporate board members and executives cited anticipated volatility in global financial markets and currencies as a significant risk.