Companies across the globe are facing unprecedented and increasingly complex challenges as digital disruption accelerates structural, geopolitical and societal changes. As these global risks intensify, companies need to rethink their preparedness strategies to build resilience.
A key element in measuring a company’s resilience is assessing both the likelihood and the impact of potential corporate risks on the bottom line as well as their level of preparedness to counter such risks.
While risks such as fraud, litigation, corruption and political disruption still rank highly on the concerns of business leaders, it is clear that cyber-related risks are escalating to become the foremost threat. Yet despite the profound role that technological disruption has had in shaping the risk landscape for companies, the vast majority remain unprepared.
Triggered by increasing digital dependency and the integration of technology into all facets of business and society, our survey shows that cyber-attacks stealing or compromising assets remain by far the biggest threat facing companies, with 27% of respondents having experienced an incident in the past 12 months.
Across almost every corporate risk category, when companies are required to meet extreme revenue goals, it has a negative impact on their resilience. But companies can protect against corporate risks in surprising ways, including using technologies such as artificial intelligence and blockchain.Download Resilience Barometer 2020
For further information on how FTI Consulting can help your organisation to improve its resilience to critical events, please contact one of our experts here.