I’m sure organisations would love to wave a wand and eliminate the latest geopolitical tension, cyberattack threat or supply chain disruption. But instead they have risk managers, who weave their own magic spells to navigate their businesses past the perils that lurk around every corner
If you’ve read the Harry Potter books, you’ll be aware of something called the Triwizard tournament, and in particular the third task, which is a giant maze.
Within the labyrinth, horrors abound. There are terrifying monsters to be fought, scary spells to counter, and evil wizards on the move.
And, of course, the protagonists must face all this in the dark (thanks to some 20-foot hedges) and watched by thousands of spectators.
Oh, and it’s also a race to get there first.
All this, naturally, is a perfect analogy for the current risk landscape that organisations are facing. Around one turn – the prospect of a global recession. Around another – a rapidly worsening geopolitical landscape. And through an archway – increasingly sophisticated cybercriminals.
What of the coveted prize in the centre of this labyrinthine puzzle? Innovation, growth, market share, profitability.
Just like those in the Triwizard tournament, speed and agility is essential if you hope to succeed – or just survive. This is particularly true in the face of rapid technological advancements, especially the increasingly ubiquitous AI. Getting left behind could lead to disaster through obsolescence.
So, what role do risk professionals play in this metaphor? You are the compass that leads the way, the defensive spells that see o the many oncoming threats, and the magic that enables your organisations to bounce back if they come to harm.
Also just as is the case for those brave Triwizard champions, it is not enough to be simply reactive. The winners are those who come forewarned and forearmed. Those who have researched what is coming and modelled the potential outcomes. Those who know when to seize opportunity, and when to hold back or proceed with caution.
I believe that StrategicRISK’s role in all this is to help you with that preparation. We do this by bringing together experts and leaders within the risk community and sharing examples of best practice. We highlight the emerging threats and, crucially, we explore how other people are tackling them.
As ever, the more risk professionals we work with, and the more engaged our readers are, the better we are at our mission. If you’re reading this in print, then you’re also at the Risk-!n conference in Zurich! Do come find me, and tell me what matters to you. If you’re reading the online edition, send me a message on LinkedIn. Together, we can crack the maze and defeat the fearsome threats we face.
Happy hunting.
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