In this final post of 2008, we look forward to a new year filled with uncertainty and risk. Events of this past year will reverberate not only for the next few weeks or months, but throughout the coming year and potentially many years to come. A year-end study completed by Ernst & Young highlights the top risks that companies across the globe will face in 2009. Below are the rankings with results from the 2008 study in parentheses.
The 2009 top 10 risk rankings
1. The credit crunch (2)
2. Regulation and compliance (1)
3. Deepening recession (New)
4. Radical greening (9)
5. Non-traditional entrants (16)
6. Cost cutting (7)
7. Managing talent (11)
8. Executing alliances and transactions (7)
9. Business model redundancy (New)
10. Reputation risks (22)
Not surprisingly, credit related issues are the number one item on the list followed closely by regulation & compliance. Companies of all sizes need to be prepared to address the rapid changes that may occur over the next year. Having a solid framework to quickly understand changes in these risks and make quick adjustments will provide a significant competitive advantage. Visit www.WheelhouseAdvisors.com to learn more.
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