1. Underestimated Risks: Why and What to Do.
- Author
-
Conrad, Linda and Galer, Donna
- Subjects
BUSINESS planning ,RARE earth metals ,CHINA-United States relations ,LOW-income consumers ,BUSINESS enterprises ,LITHIUM industry ,INSURANCE companies - Abstract
This article explores the risks that are often overlooked in enterprise risk management. It emphasizes the importance of organizations independently assessing their business exposures and developing strategies to mitigate these risks. The authors discuss the potential impacts of rising employee expectations and the risks associated with companies taking public stances on controversial subjects. They also highlight three specific risks that companies may face, including boycotting of products, risks associated with trading with China, and a potential lithium shortage. The article provides recommendations such as avoiding public statements against any subgroup, diversifying supply chain partners and customer bases, and adjusting the supply chain and investing in research and development to address these risks. [Extracted from the article]
- Published
- 2024