Risk is everywhere: Hyper-disruption demands constant reinvention
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.
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| 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 |
Methods
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.
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Key Insights
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.
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Additional Viewpoints
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