Yes, Kevin, it’s interesting. Even building on what Jim was just talking about, just this: When you look in the top 10, it’s important, I think, for people to recognize you don’t look at each of these 10 individually. They are very related in so many ways – as Jim was saying, this real emphasis and concern about technology and innovation and whether companies are going to be nimble enough with their legacy infrastructures to be able to compete with entities that are more born digital, where they’ve got more flexibility and lower overhead.
When you look at the top 10, there are some related groupings in that 10 – first, that number one risk that Jim has touched on about this concern about existing operations, legacy infrastructure, being able to compete with those that are more nimble, more digital. Another one of our top 10 is concern about rapid speed and disrupted innovation because of emerging technologies. Then you link that to concerns about not being competitive and being able to utilize data analytics and big data. Right there, there are three that really connect. They’re distinct, but they relate to one another.
Jim also touched on culture, and I think this ties there, too, because one of our key findings is this resistance-to-change concern. That was our number five out of the 10, where that resistance to change might restrict the organization’s ability to make the needed adjustments to a business model. Then we have another culture of concern: Does the culture really embrace the escalation and timely reporting of key risk issues upward? Does the culture support it, or is the process clear enough to know how to escalate a risk?
Then finally, cyber – naturally, no surprise, it’s in the list. It’s there. People are definitely concerned about cyberthreats, but then a separate one of our 10 is privacy and identity management. I think that’s a key takeaway for me – what’s bubbling to the top is that it’s probably better to look at related themes like that because I think collectively, they’re telling us the bigger message.