Emerging Risks

Sep 1, 2013

Preparing for a Black Swan Event

Black Swan events are traditionally thought to be rare, random, and high-impact events, but recent history suggests that Black Swan events are happening more frequently while maintaining their unpredictability and catastrophic characteristics. A recent thought paper by Ernst & Young explains the benefit of preparing for a Black Swan event, identifies broad-based principles to implement prior to an event, and describes protocols to follow when responding to the event. Due to a Black Swan’s unpredictability, a flexible and broad-based approach to prepare and respond to such an event is necessary to mitigate its impact and facilitate a speedy recovery. The paper provides valuable insights to help your enterprise prepare for the unexpected.

Mar 1, 2013

Strategies to Manage Risks of Sudden Competitor Disruptions

The introduction of new business models such as cloud computing, apps for model devices, instant information sharing, and free trial of service offerings have suddenly disrupted business models for a number of organizations. The way in which disruptions to an organization’s core business now emerges is often different from how new competitors have emerged in the past, which thereby calls for new ways to manage the risk of disruptive innovations. A recent Harvard Business Review article addresses these issues by focusing on what has changed in this context and how risk managers can better plan for the unknown. The cliché “time is of the essence” could never be more true for planning ahead to mitigate the impact of major market disruptions in what the authors call “big bang” disruptions. They offer strategies and identification techniques to help managers pursue planning for a disruptive environment.

Mar 1, 2013

Using Collaboration Risk Management to Recognize Emerging Risks

Learn how to enhance your ERM program by incorporating emerging risks and collaborating with external partners. Discover how businesses can anticipate change and turn risk into opportunity for growth.

Feb 13, 2013

Top Risks on Horizon for 2013

Explore the top risks identified by corporate leaders for 2013, including regulatory scrutiny, global economic conditions, political instability, and cybersecurity threats, as detailed in a Protiviti and NC State ERM report.

Jan 8, 2013

Overview of World Economic Forum’s Recent Worldwide Risk Assessment

Explore key findings from the World Economic Forum’s 2013 Global Risks Report, including emerging risks, risk constellations, and how enterprises can leverage global risk data for ERM initiatives.

Dec 1, 2012

Managing Disruptions by Bifurcation

Discover strategies to transform businesses by adapting legacy models and innovating new growth initiatives. Learn how resource-sharing and disruption can fuel competitive advantages.

Dec 1, 2012

Managing the Risk of Disruptive Innovation

Organizations often find themselves surprised by a competitor's announcement of a new innovation. Such announcements can be hugely disruptive, and they hit the competitive environment in many forms, such as a new revolutionary business model, a completely new technology, or a new spin on an existing product or service. A December 2012 article in Harvard Business Review discusses the threat of disruptive innovation. A new product offering or a novel business model from a competitor is enough to upend any existing business and change the face of a particular market indefinitely. However, organizations can manage the risk of disruptive innovations by being proactive in regards to evaluating their own business models and those of competitors. In this HBR article, Wessel and Christensen present their approach for assessing and strategically managing the risk of disruption.

Nov 2, 2012

Overview of Key Take-Aways from Fall 2012 ERM Roundtable Summit

The Fall 2012 ERM Roundtable Summit explored strategic insights on enhancing ERM, integrating risk oversight with strategy, using KRIs/KCIs, and strengthening board-management collaboration on emerging risks.

Oct 2, 2012

The Future of ERM

Steve Dreyer, Managing Director at Standard & Poor's, believes that while the term Enterprise Risk Management (ERM) may fade, its core concepts will endure and evolve with best practices, despite potential criticism of S&P's focus on this "soft" aspect of company evaluations.

Oct 1, 2012

Applying “Big Data” to Risk Management

“Big data” is quickly building a following as a useful tool for helping managers make decisions. But what exactly is big data, and is its use actually beneficial to a business? This article from Harvard Business Review answers these two questions and more. The authors explain why digital data is perhaps more useful than ever before, and also provide real-life examples of companies using big data to make better decisions. The article also discusses five ingredients that are critical to using big data successfully in any company. Ultimately, big data could provide managers with insights into the risks facing their organizations.