Survey reveals executives not prepared for high-risk situations
The study also shows that leaders are failing to implement successful risk management programs.
Despite overwhelming evidence of business disruptions that can occur from failing to manage various risks, company executives are not adequately identifying and preparing for risks that can have potentially catastrophic implications on business operations, according to a survey presented by DuPont Sustainable Solutions (DSS), Wilmington, Del. This annual global survey of company executives reveals that if left unchanged, a company’s operational performance, business continuity, right to operate and ability to deliver consistent value could suffer.
“Old ways of looking at risk are insufficient in today’s global business environment if executives want their organizations to be sustainable and prosper,” says Davide Vassallo, global managing director. “Running a successful business is more complex today than ever before, with executives facing numerous challenges on a daily basis both within and outside their organizations. With these challenges come numerous associated risks that executives must successfully anticipate and mitigate. In order to transform an organization, executives should integrate risk into the organization’s business strategy to engage employees, increase productivity and drive competitive advantage.”