Executive Perspectives on Top Risks 2020

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Protivity | Dec 12, 2019

Executive perspectives on top risks 2020 - Executive Perspectives on Top Risks 2020A constantly evolving geopolitical landscape that is trending toward nationalism, an ever-present concern over cyber threats, increasing market disruptions caused by “born digital” organizations and the rise of artificial intelligence (AI)-enabled technologies, and the effects of tightening labor markets are just a handful of concerns voiced by organizational leaders around the globe. Add to these the devastating impact of hurricanes and other natural disasters, continued apprehension over interest rates, uncertainty in war-torn regions of the world, polarization of political viewpoints, the ease with which information can go viral via social media and other digital platforms, and ongoing negotiations to settle Brexit.

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These are but a few of the many drivers of uncertainty affecting the 2020 global business outlook. Concerns that foretell a rapidly changing business environment and the potential for unwelcome surprises vividly illustrate the reality that organizations of all types face risks that can either disrupt their business model over time or damage brand image and reputation almost overnight. Insufficient focus on and attention to the web of complex enterprise wide risk events of varying velocity, persistence and severity are likely to threaten an entity’s brand, reputation, business model and, in some instances, its very survival.

Leaders of organizations in virtually every industry, size of organization and geographic location are reminded all too frequently that they operate in what appears to many to be an increasingly risky global landscape. Boards of directors and executive management teams cannot afford to manage risks casually on a reactive basis, especially considering the rapid pace of disruptive innovation and technological developments in an ever-advancing digital world.

Protiviti and NC State University’s ERM Initiative are pleased to provide this report focusing on the top risks currently on the minds of global boards of directors and executives. This report contains results from our eighth annual risk survey of directors and executives worldwide to obtain their views on the extent to which a broad collection of risks is likely to affect their organizations over the next year.

Our respondent group, comprised primarily of board members and C-suite executives from all major regions of the world, provided their perspectives about the potential impact in 2020 of 30 specific risks across three dimensions:1•Macroeconomic risks likely to affect their organization’s growth opportunities•Strategic risks the organization faces that may affect the validity of its strategy for pursuing growth opportunities.  Operational risks that might affect key operations of the organization in executing its strategy.

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In presenting the results of our research, we begin with a brief description of our methodology and an executive summary of the results. Following this introduction, we discuss the overall risk concerns for 2020, including how they have changed from 2019 and 2018, followed by a review of results by size of organization and type of executive position, as well as a breakdown by industry, geographic location, type of ownership structure (i.e., public company, privately held, not-for-profit and government), and companies with rated debt outstanding. We conclude with a discussion of plans among organizations to improve their capabilities for managing risk and a call to action offering executives and directors diagnostic questions to consider when evaluating risk assessment and risk management processes.

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NCFA Jan 2018 resize - Executive Perspectives on Top Risks 2020 The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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