Global Risk Management Scenario Topic 7 SMQR 5103
Top Risk Concerns Global Top Risks Economic risks Environmental risks Technological risks Societal risks Geopolitical risks Top Risks Concern of Enterprise Regulatory changes Economic condition in market restricting growth opportunity Insufficient preparedness for cyber threat Instability to attract & retain top talent limiting ability to achieve operational targets Inability to sustain customer loyalty & retention due to evolving customer preference
Critical Success Factor in Risk Management Effective risk oversight Integrate risk management, internal control & internal audit Emphasize on strong risk culture
Barriers in Implementing Risk Management Unsupportive culture Lack of risk-strategy integration Lack of practical experience Lack of policy and procedure of managing risk Lack of expertise to lead risk management team
Global Risk 2015 Source: WEF Global Risk Report 2015
Global Risks 2015
Global Risk 2015
Organizational External Factors Change of government / policy maker, terrorism, riots Growth/ decline, exchange rates, inflation, credit, wages, fiscal, monetary, trade, investment Cultural norms & expectation, demography, health & safety Technological changes, barriers, supply chain & outsourcing decisions Legal requirements having effect on materials, labour, operation, import/export, etc. Emissions to air, water and land having impact to the environment (climate change, etc)