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Building a lasting company is no easy task.
It can take decades to gain trust and respect in a given market, and it only takes one terrible abuse to reveal all kindness.
As a result, it's no surprise that the world's top CEOs think a lot about assessing these kinds of risks. So what do executives see as the biggest reputational risks over the next 12 months for their companies?
Today's infographic comes to us from Raconteur, and it destroys the near-term reputational risks seen by CEOs as based on Deloitte's research.
The concerns highlighted in the survey fall into three main categories:
- Security risks: including physical and cyber breaches (41%)
- Supply chain: risks arising from an extended enterprise and key partners (37%)
- Emergency response skills: how the organization handles emergencies (35%)
Let's dive a little deeper to see why these wide areas are so concerned.
As more people work remotely, CEOs see an increasing risk arising from data breaches.
Although 89% of the C-suite believes that employees will do everything they can to keep information, about 22% say their employees are not aware of out-of-date data policies. The devices most at risk, according to this group, are corporate cell phones (50%), laptops (45%) and USB storage devices (41%).
Supply Chain Risk
When it comes to maintaining the quality of your product or service, it is not appropriate to rely on third parties.
However, it also doesn't seem like companies are fully integrated vertically – somewhere along the way, you have to get raw materials from a supplier, or you have to rely on a logistics company to deliver your goods to the market. The more boundaries you have to cross, and the more items one has to go, the more complicated it all becomes.
In terms of supply chain risk, CEOs are largely concerned with government action (or inaction): policy uncertainty, over-regulation, trade conflicts, geopolitical uncertainty and protectionism were all items listed high on the list.
It pays to be prepared when it comes to emergencies.
The only problem? It seems that the data that former C-level executives have to make emergency decisions does not fit snuff. For example, 95% of CEOs see customer and need data in such a situation, but only 15% of companies successfully collect such data.
The same gap seems to occur when it comes to other types of data, including brand reputation data, financial forecasts and projections, employee needs and insights, business level of the companies and supply chain data.
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