Businesses face a hyper-disruptive risk environment requiring constant reinvention of risk management strategies to enhance resilience and growth. The study highlights the urgency for organizations to adapt to emerging interconnected risks.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source PDF |
| Language: | English |
| Publisher: | Accenture |
| Authors: | Heather Adams, Michela Coppola, Samantha Regan |
| Publication date: | February 2024 |
| Geographic focus: | Australia, Brazil, Canada, France, Germany, Italy, Japan, Mexico, New Zealand, Saudi Arabia, Singapore, Spain, United Arab Emirates, United Kingdom, United States |
The research method involved surveying over 700 risk professionals across various sectors and countries, gathering insights on their experiences and perceptions regarding risk management capabilities and challenges.
(Generated with the help of GPT-4)
The Accenture Risk Study: 2024 Edition reveals that organizations are struggling to keep pace with a rapidly evolving risk landscape characterized by complex, interconnected threats. Surveying over 700 risk professionals globally, the study found that 83% of respondents believe that complex risks are emerging more rapidly than ever, with 81% acknowledging that risks in other sectors now impact their operations. Despite the increasing challenges, only 14.5% of organizations possess advanced risk management capabilities. The report emphasizes the need for businesses to adopt a proactive risk mindset across all functions, invest in new technologies, and enhance skills to effectively detect and mitigate risks. Additionally, it identifies four key strategies for improvement: investing in technology, developing future risk leaders, maximizing agility, and making risk management a collective responsibility. The findings underscore the importance of understanding the interconnectedness of risks and the necessity for organizations to evolve their risk management practices to thrive in a volatile environment.
(Generated with the help of GPT-4)
Categories: 2024 publication year | English publication language | Australia geographic scope | Brazil geographic scope | Canada geographic scope | France geographic scope | Germany geographic scope | Italy geographic scope | Japan geographic scope | Mexico geographic scope | New Zealand geographic scope | Saudi Arabia geographic scope | Singapore geographic scope | Spain geographic scope | United Arab Emirates geographic scope | United Kingdom geographic scope | United States geographic scope | agility | business resilience | fraud risk | future leaders | interconnected risks | organizational culture | risk management | risk mindset | skills development | technology investment