Strategic Focus: The New Wave Of Enterprise Risk Consulting
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Executive Summary
The World Economic Forum’s 2024 Global Risks Report rates climate-related, technological and geopolitical risks among the top five global risks over the next two years. These types of new and emerging risks present a wealth of challenges to firms’ existing risk management plans. These risks can present with little to no warning, drastically shortening the timeframe in which organizations must respond. At the same time, firms’ responses to crises are increasingly publicized, leaving little room for error. As organizations attempt to adopt a more proactive approach to risk management, they are increasingly leaning on consultancies to revitalize their risk management frameworks.
Table of contents
The shifting global risk landscape is ushering in a fresh era for risk consultingNew and emerging risks create a broad spectrum of challenges for chief risk officers
New risks and growing business intricacies render existing risk management methods insufficient
Today’s risk challenges necessitate a paradigm shift in risk consulting
Table of figures
Figure 1. New and emerging risks challenge firms’ global operationsFigure 2. The new risk landscape exposes weaknesses in firms’ existing risk strategies
Figure 3. Necessary features of risk consulting today
Organisations mentioned
Adidas, Huawei, McKinsey & Company, Raymond James, Reuters, Samsung, Seagate, Sourcing Journal, Tesla, US Bureau of Industry and Security, US National Labor Relations Board, US Securities and Exchange Commission (SEC), Volkswagen, World Economic Forum (WEF), World Meteorological Organization, Yale University Chief Executive Leadership Institute (CELI)About the authors
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