The pace of global change grows quicker every year, waves of disruption such as Big Data, the Internet of Things, commodification and increased competition all put pressure on traditional business models.
IMA and ACCA present the case for using Enterprise Risk Management (ERM) for successfully navigating disruption by tying it to strategy and innovation through:
- Incorporating risk-sensing tools to predict and respond to waves of disruption
- Using tools that enhance the business understanding of risk and develop/alter key assets to combat the changes in the external environment
- Innovating business models in response to risk.
The report contains examples of how companies have successfully created a culture of innovation within their organisation and incorporated risk into their innovation processes.