Responding to Global Risk | News and insight | Business | Zurich Insurance

Responding to Global Risk

Global risk report

At a glance

  • Global risks can be economic, environmental, geopolitical, social or technological. Think currency crashes, climate change, terrorism, revolution or cyber crime.

  • The World Economic Forum (WEF), who produces an annual report on global risks, defines them as events that could cause "significant negative impact across many counties, industries and organisations over a sustained period of time (up to 10 years)."

  • We have created a series of videos to bring to life the annual report and highlight some of the key risks which fall within the following four classifications:

Global risk report

Global risks are not only interconnected, but also have systemic impacts. Greater effort is needed to manage them effectively. And that is where these videos can highlight the impact.. It is one thing to analyse global risks but, in the absence of a global authority to control them, it falls to organisations, boards and individual leaders to understand their impacts and build resilience to them at both a strategic and operational level.

This is by no means negative thinking. Improved resilience breeds increased confidence, greater enterprise and other benefits. Equally positive is the reality that a threat to one organisation can be an opportunity for another. A constant theme of these videos is that businesses can achieve competitive advantage through an effective response to global risks.

Ultimately, company boards cannot anticipate every eventuality and even the best prepared can be blindsided by events. But, as these guides highlight, there are many decisive steps that they can, and should, take.