Supply Chain, Cyber Threats Among Key Risks for Businesses in 2019

The video discusses the broad challenges faced by UK businesses, focusing on uncertainty in regulations, supply chain risks, and business interruptions. It highlights survey insights showing business interruption as a top risk globally, with legislation being a major concern in the UK. The impact of Brexit on supply chains and the economy is explored, emphasizing the difficulty in reversing decisions made under worst-case scenarios. The video concludes with a call for a holistic approach to enterprise risk management and contingency planning.

What is identified as the number one risk for global clients according to the survey?

• Cyber incidents

• Currency fluctuation

• Legislation changes

• Business interruption

In the UK, what is considered the top risk for businesses?

• Cyber incidents

• Increased legislation

• Supply chain disruptions

• Currency fluctuation

What are some potential risks associated with Brexit?

• Decreased demand for exports

• Increased cyber attacks

• Tariffs and customs delays

• Higher interest rates

Why might decisions based on worst-case scenarios be problematic?

• They require minimal resources

• They are always accurate

• They are easily reversible

• They can be difficult to reverse

What strategy is recommended for businesses to manage risks effectively?

• Focusing on short-term gains

• Relying on a single supplier

• Ignoring global market trends

• Diversifying risks across suppliers and customers