The findings in Aon’s 2011 Global Risk Management Survey report was recently released and should be included in the reading resource library of all business continuity and risk management planning teams. And while business leaders across the globe identified economic risk as the greatest threat facing their organizations today, many other interesting findings will interest all business continuity planners, if for no other reason to simply act as a benchmark comparison against those threats and risks included in their business impact analysis reports.
Some findings may surprise some of our readers – like the fact that for the first time in the history of the survey, failure to innovate/meet customer needs made the top 10 list of global risks, debuting at number six.
Technology failure / system failure also earned its first top 10 spot, ranking ninth on the list. Technology concerns lead to fears about additional risks, including business interruption and damage to brand, which are also found on the report’s top 10 list.
Aon’s 2011 Global Risk Management Survey Top 10 Risks
As a quick summary of the survey, you can view the top 10 risks below:
1. Economic slowdown
2. Regulatory/legislative changes
3. Increasing competition
4. Damage to reputation/brand
5. Business interruption
6. Failure to innovate/meet customer needs
7. Failure to attract or retain top talent
8. Commodity price risk
9. Technology failure/system failure
10. Cash flow/liquidity risk
The list above represents a ranking of risk that has been averaged or balanced across all industries reporting within the survey. The survey results from inputs generated from inputs received from business leaders from 58 countries across 31 industries. Click here to see how your particular industry ranks its top 10 risks.
Keeping the business continuity plans of a company fresh and current is an important part of the continuous improvement aspect of any good control plan to best prepare that organization for the unexpected.
Click here for more information and to register for a copy of this Aon Global Risk Management Survey report to pass along to those risk management team leaders in your organization.
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