GIVEN that failures are generally CAUSED by a strategic risk that has not been addressed rather than by a catastrophic storm or single cyber attack, for example, it is vital for organizations to know and deal with their strategic risks.

Strategic risks typically involve aspects of the business such as:

1. What is the organization’s vision of the future – does it take into account where technology, SCIENCE and other dynamic forces are GOING?
2. What is the mission – what does the organization make or sell, to whom and in which geographies?
3. What are the goals and objectives – how much does the organization want to grow, at what margins, keeping what capital and debt levels?
4. What are the values – how does the organization want to BEHAVE and be perceived in the marketplace?
5. What is the position with strategic partners, investors and vendors?

Given that failures are generally caused by a strategic risk that has not been addressed rather than by a catastrophic storm or single cyber attack, for example, it is vital for organizations to know and deal with their strategic risks.

Strategic risks typically involve aspects of the business such as: