Insights

Strategic Risk Management on the rise

Henry

As post-COVID reality entirely changed consumers and companies world perspective with a boom in GenAI, remote work, change in shopping behavior, and supply chain instability Strategic Risk Management is rapidly becoming a focus for all decision makers.

Here are few trends you should stay on top of:

1️⃣ Recent McKinsey study found that 3 out of 5 CFOs are significantly increasing their forecasting frequency, running more regular scenario planning and working closer with marketing and sales team to align on budget goals

2️⃣ 72% C-level decision makers feel their teams are not ready to face challenges posed by advances in GenAI and Cyberfraud over the last 2 years, according to Accenture report. Managing those risks will become a top priority for many companies in 2024 and 2025

3️⃣ Innovative mindset becomes crucial in surviving - recent decline in corporate longevity shows how quick big companies can crumble if they don’t invest in R&D and Strategic Planning

4️⃣ Geopolitical tensions lead to further market fragmentation exacerbated by regulatory impact and their unpredictability as noted by SONAR team. Legal and PR teams will continue expanding for multiple companies as part of their strategic toolkit to create a natural hedge against long tail risks