Executive Perspectives on Top Risks for 2023 and 2032
Key issues being discussed around the globe in the boardroom and C-suite
The level of uncertainty in today’s global marketplace and the velocity of change continue to produce a multitude of potential risks that can disrupt an organisation’s business model and strategy on very short notice. Unfolding events in Eastern Europe, changes in government leadership in several countries around the globe, escalating inflation, rising interest rates, ever-present cyber threats, competition for talent and specialised skill sets, continued disruptions in global supply chains, rapidly developing technologies … these represent just a sampling of the complex web of drivers of risks that may threaten an organisation’s achievement of its objectives. Uncertainty and risk are here to stay. Keeping abreast of emerging risk issues and market opportunities is critical to improving organisational resilience.
To help executives and boards better identify potential risks on the horizon, Protiviti and NC State University’s ERM Initiative are pleased to provide this report focusing on the top risks currently on the minds of boards of directors and senior executives around the globe. This report contains results from our 11th annual worldwide risk survey of more than 1,300 directors and executives to obtain their views on the extent to which a broad collection of risks is likely to affect their organisations over the next year — 2023. In addition to insights about near-term risks in 2023, we also asked respondents to consider how these risks will affect their organisations a decade from now (in 2032).
We appreciate the support our annual survey continues to receive from board members and C-level executives around the world. I believe that the insights and recommendations in this report reflect the challenges and opportunities of our times and merit close attention in the boardroom and C-suite.
Resources and Download Materials
This executive summary provides a brief description of our methodology and an overview of the overall risk concerns for 2023 and 2032, followed by a series of calls to action and a review of the results by type of executive position.
Our full report contains extensive analysis of key insights about top risk concerns across a number of different dimensions, including a breakdown by industry, size of company, type of ownership structure, and geographic locations of company headquarters.
Ongoing challenges triggered by a once-in-a-century airborne pandemic continue to unfold, reminding executives that the range of uncertainties has triggered an overwhelming landscape of ever-changing risks they must manage. View the infographic for more information.
Dr. Mark Beasley, Professor of Enterprise Risk Management and Director of the ERM Initiative in the Poole College of Management at NC State University, and Protiviti Managing Director Jim DeLoach share their insights on the top risks issues and related trends impacting organisations worldwide.
Please join us for a discussion of the top risks identified in our survey, including people- and culture-related concerns as organisations face a disruptive decade requiring agility and resilience to succeed.
Executives are signaling that all of the risks examined are highly relevant, demonstrating that organisations need to be scanning the horizon not only with a lens on operations within the organisation but also with an external view that considers emerging macroeconomic and strategic shifts.
The threats of business disruption due to increased geopolitical events and the impact of national elections weigh heavily on the 2023 risk outlook. Understanding and addressing these threats proactively are keys to aligning a company’s strategy with existing business realities.