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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 source 2 |
| 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