Managing risks and enabling growth in the age of innovation
of Adapters identify their organisation as innovative versus 29% of peers
of Adapters expect annual revenue growth of 10% or more versus 11% of peers
of Adapters’ risk management programs contribute significant value
more likely to see see future revenue growth at companies identifies as more innovative
As technological innovation continues to revolutionise the business landscape, organisations are also grappling with newfound risks and unchartered challenges. PwC's 2018 Risk in Review Study of more than 1,500 senior risk executives globally, shows how a distinct set of risk management practices can arm organisations to capture value from their innovation efforts and better manage related risks for future growth.
Adapters - those with risk management programs that effectively manage innovation-related risks are two to three times more likely to express confidence in their risk management program's ability to effectively manage risks from new technologies compared to their less effective peers.
Given the many benefits of embracing innovation in a risk-conscious manner, we identified five distinctions that separate Adapters and Non-Adapters.