You can’t do today’s job with yesterday’s methods and be in business tomorrow. George W. Bush. The usual expression is “better the devil you know than the devil you don’t”, and it also holds true with hidden operational risks and inefficiencies. Therefore, the Safety and Loss Prevention Audit, or in fact, when risks that remain undetected or are detected too late reveal themselves, comes with a price tag and at times a sharp price tag that is. It can even trigger crises at operating unit level or even at corporate level.

Succeeding in the post-COVID era means reassessing Corporate Risk A more agile approach to risk management is needed post-COVID. Annual risk assessment should make way for continual ‘horizon-scanning’ for possible business threats. This level of preparedness and planning should permeate entire company cultures.

Cyber attacks are the new norm. Facing a cybersecurity incident can be challenging since it exposes a firm not only to financial but also reputational damage.