One tool that can be helpful in fostering robust conversations about emerging risks is a SWOT Analysis, which provides a framework for considering both risk threats and risk opportunities linked to an organization’s strengths, weaknesses, opportunities and threats.
Considering “Strengths” and “Weaknesses” often help leaders think about internal risks to the business, given they focus on what the organization does well and where there are potential vulnerabilities.
Considering “Opportunities” and “Threats” often helps leaders think about risks external to the business, given they focus on conditions in the overall business environment that might create strategic advantages or disadvantages for the organization.
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