Major Business Challenges in 2012  

Although the economic environment has shown some signs of stabilizing, recent events suggest that change and unexpected developments will continue to be the order of the day. Many issues are contributing to the uncertainty businesses in all industries face as they look to the future. Given this environment, Protiviti has identified 10 key challenges (based on extensive discussions with our clients worldwide and a broad array of industry experts, along with our own research) that companies will need to address in the coming year.

Infographic top 2012 Business ChallengesTop challenges for non-financial businesses

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While different industries will face different issues and priorities, these top challenges bring certain themes into sharper focus. Regulatory change, achieving customer loyalty and changing geopolitical dynamics, for instance, have become dominant concerns in the ongoing wake of the global financial crisis. Likewise, the rapid pace of technology - and a growing consumer appetite for it - have helped to make privacy and information security issues, data management and analytics, and software investments in business performance improvement top priorities.

By identifying and considering these business challenges and emerging issues now, boards and audit committees stand a better chance of not being caught off guard later.

To learn more about how to address these challenges, we invite you to read the following:

For Organizations in All Industries, Except Financial Services
Setting the 2012 Audit Committee Agenda for Non-Financial Services Companies (PDF)
Volume 4, Issue 9 of The Bulletin details 10 top business challenges that many companies will face in 2012 and that boards must consider as they set the 2012 audit committee agenda. This article also summarizes an audit committee agenda that is broken down into two categories: enterprise-level mandates and process and technology risk issues.

For Organizations in the Financial Services industry
Setting the 2012 Audit Committee Agenda for Financial Institutions (PDF)
Volume 3, Issue 8 of FS Insights details 10 top business challenges that many financial institutions will face in 2012 and that boards must consider as they set the 2012 audit committee agenda. This article also summarizes an audit committee agenda that is broken down into two categories: enterprise-level mandates and process and technology risk issues.
 

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