As we entered the year, risk professionals may have been kept awake at night thinking about cyber risks, perhaps coloured by outstanding uncertainties surrounding Brexit and issues associated with climate change. How much difference a few months have brought. With the Covid-19 pandemic, there has been unprecedented disruption to businesses and daily lives not seen for decades.
Disease is a known risk and has been on risk registers for many years and some organisations had prepared extensively for a pandemic, but the scale and velocity of the spread of Covid-19 took many by surprise. In this context, great leadership fuelled by managerial agility were key factors in managing an effective response, not plans gathering dust with inert responses that took too long to ignite. But however well leaders performed, or teams responded, organisations continue to grapple with uncertainty.
Airmic’s survey report for 2020 highlights the risks and megatrends impacting organisations and provides the context in which risk professionals are operating. The report walks through how five risk megatrend areas and their connectivity can be navigated, and the effect of a crisis such as the pandemic on other risks. The five risk megatrend areas cover:
- Cyber & technology
- Climate & environment
- Trust & reputation
- Geopolitics & populism
- Governance, laws & regulation
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