Key takeaway: Global level volatility has individual level implications. The level and speed of macroeconomic and geopolitical change has pushed risk-readiness—how prepared a business is to tackle established and emerging risks—to a ten year low.
Hyperproof summary: the world and the economy have become a small neighborhood and the ripples of international geopolitics are impacting businesses of all sizes. And today, the frequency, source, and speed of those ripples are accelerating. Stock market volatility, trade disputes, rising political tensions, Brexit—all are contributing to a heightened level of business vulnerability.
The top ten business risks faced by leaders are outlined in the article, as well as ways to mitigate them. We’ve included those risks below:
- Economic slowdown/slow recovery
- Damage to reputation/brand
- Accelerated rates of change in market factors
- Business interruption
- Increasing competition
- Cyber attack/data breach
- Commodity price risk
- Cash flow/liquidity risk
- Failure to innovate/meet customer needs
- Regulatory/legislative change
We’re interested most in number 10—the main consideration from the article for mitigating risks posed by regulatory/legislative change is below. If you want to see all of them in more detail, click the provided link to read the full article.
Regulatory/legislative change: leaders should view mandatory compliance as a business enabler, which can be leveraged as a competitive advantage over peers when swiftly or effectively addresses.
Read the full article here