The World Economic Forum (WEF) has warned that companies should not focus all of their attention of the current financial crisis without paying any attention to managing future risks. Basically, firms need to spend time assessing the current risks in order to protect them from the recent financial failures, while focusing on long-term risk as well to secure future growth.
The fact that there may still be failures in major financial institutions, continuous default in the consumer credit arena, etc. has increased the threat of future risks. Sheana Tambourgi, head of the Global Risk Network of the WEF, said: ‘'We understand how difficult it is for organizations to look at future risks to growth in the midst of such turmoil but our experience shows that long term planning for growth remains paramount and neglecting it could be equally damaging.’
http://www.strategicrisk.co.uk/story.asp?sectioncode=23&storycode=374311&c=2
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