We have identified six of the most important gamechangers for businesses today. These are the hottest issues in enterprise risk, going right to the heart of your strategic agenda. Individually, they are so important that a good or bad decision relating to any one of them, could dramatically and irrevocably change your organisation’s fortunes. Collectively, they make up a significant proportion of the modern board agenda. Fundamentally interconnected, boards that actively monitor, manage and exploit all six business hot spots are firmly in the driving seat.
As a result, they are more likely to achieve clear, comprehensive oversight and control of risks and opportunities across the business. But positioning a business for resilience and growth is easier said than done. That’s why we have developed responses that offer support, bringing a fresh perspective to each gamechanger. Provocative, relevant and value-creating, these perspectives are designed to help boards respond effectively, with brave and confident decision.
Leaders need to integrate enterprise risk management with strategy, improve their risk profile, embed good corporate governance, implement stress testing and embed continuous monitoring instead of focusing on cutting costs and aggressively streamlining operations.
Building digital trust: You need to be aware of your cyber security risks, be able to assess which cyber threats and possible cyber attacks could actually affect your business goals and have the agility to deal with new information security threats as they arise.
Many leaders lack visibility of their business transformation programmes. Sponsors often feel removed from the detail of a change management programme and need help to feel closer, increasing their confidence and certainty of achieving the desired outcome
Your regulatory response reflects the level of control you have in your business. Regulatory compliance can be turned from a requirement to a source of commercial advantage.
Promises are made between people, not organisations or contracts. Risk assessing contractual obligations, understanding sub-contractor risk and improving governance maturity will help to increase levels of third party trust.
Aligning your culture, behaviours and beliefs is the key to success. If there is a mismatch between the intended, espoused and actual behaviours, the consequences for your organisation can be serious.