Predicting the future is an easy way to look foolish. Every day, investment advisors, meteorologists and sportswriters publicly make claims that never come to bear. Nevertheless, there are some clear trends occurring in business, international relations, technology and society in general that are certain to influence how companies operate.
In order to gain a better understanding of these trends, we asked a variety of experts to share their thoughts on some of the most important risks to watch for in the coming year. These risks might not manifest themselves for every company right away, but they do represent the types of threats and opportunities that every risk manager should be mindful of this year.
These are the risks of 2013.
The Evolving Role of Leadership
by Jared Wade
The modern demands of leadership are more about anticipating and responding to crises than running a tried-and-true playbook to deliver results.
The Multitasking Plague
by Marc Schoen
Multitasking causes us to develop obsessive thinking, expect instant gratification, demand perfection from others, and have a shorter fuse.
The Terrorism Risk Insurance Act Extension
Q&A with Stephen Clarke
Will Congress act early in 2013 to remove the uncertainty? That would be ideal, but the history of federal response on the issue has shown a tendency to wait until the last possible moment.
Supply Chain and Contingent Business Interruption
by Jared Wade
This seems to be the year that companies will no longer be able to use supply chain disruptions as an excuse.
Contingent Business Interruption Coverage Disputes
Q&A with Bill Krekstein
The dearth of case law interpreting CBI coverage ensures that courts will closely scrutinize relevant policy language.
Stakeholder Pressure Ramps Up
by Stephen Miles
When you talk to global CEOs and ask them what has been the biggest surprise about their role, one of the top responses is “stakeholder overload.
The Failure to Innovate
by Gerard J. Tellis
The strongly entrenched positions of market leaders and the steady cash flow from their successful products and services give them a false sense of security and assurance against risk.
Erratic Weather Will Affect More Industries
by Jared Wade
The winter tourism industry may be a canary in the coal mine of the erratic weather the world will increasingly face in the future.
How Values-Based Cultures Can Stamp Out Bribery and Corruption
by Greg Triguba and Michael Bramnick
With increasing regulatory pressure, elevating employee behavior — not merely detecting illicit acts and reporting them to regulators — has never been more important.
Not Using Catastrophe Models for Business
Q&A with Ming Lee
Today's risk managers are using catastrophe modeling to further their company’s competitive advantage to make scientifically sound decisions.
Allocating IT Resources Against Data Breaches
by Ken Goldstein
Once a breach occurs, the related costs can increase drastically, so IT departments need to start budgeting their resources accordingly.
Shifting to a Disability Demographic
by Marcia Carruthers
As the average life span has increased significantly, so too have the rates of ill health and disability — at an alarming rate.
Our Uncertain Energy Future
by Ramez Naam
Power plants, wind farms and solar installations have high costs and long lifetimes. Developers, utilities and investors need long-term clarity on the policies that govern them.
Improving Loss Control with Data
Q&A with Tom Lawson
With meaningful financial measurements in hand, risk managers can achieve a higher return on investment from company resources.
Mobile Social Media Forces Real-Time Response to Complaints
by Jared Wade
The strongly entrenched positions of market leaders and the steady cash flow from their successful products and services give them a false sense of security and assurance against risk.