Running a successful company itself is a tedious task. Following all the parameters, abiding by all the norms, and getting prepped for the new security guidelines takes an enormous amount of effort and time. But even after following every step by the book, an enterprise organization gets asked by clients from time to time ‘are they secured enough?’.
As the risk environment continues to increase in complexity, it has never been more critical for risk managers to be strategic business partners. When enterprise risk management is aligned with business strategy, it can positively impact the organization’s revenue growth.
Risk is often associated with note-worthy incidents or high-profile events, such as data breaches, natural disasters, health crises, or high-level corruption. However, the risk is not just the vulnerability to massive disruption, it is a product of uncertainty, and uncertainty is a constant. Uncertainty is not necessarily a bad thing, markets, and supply chains ebb and flows, regulations change and adapt to new conditions, and the industry evolves to maintain competitiveness. Along the way, many disruptions will arise. Risk assessment is the disciple of navigating that uncertainty, maintaining momentum through the small challenges, assessing the impact, and preparing to meet the difficult ones.