Few businesses appear to be deploying strategies to deal with geopolitical instability, despite increased concern that the risks are rising and the potential impact such risks could have on profits, says a new report from McKinsey. In the 2015 survey of over 1,300 execs conducted by the consultant, 17% of respondents said their company had taken active steps to address the problems associated with geopolitical or domestic political instability. Aside from the headline geopolitical risk, technology, cyber and data risks also trended higher compared to figures from 2013, with cyber security perceived as posing the greatest threat to financial services with only 13% expecting a very negative impact on profitability in that area.
Few businesses appear to be deploying strategies to deal with geopolitical instability, despite increased concern that the risks are rising and the potential impact such risks could have on profits, says a new report from McKinsey. In the 2015 survey of over 1,300 execs conducted by the consultant, only 13% of respondents said their company had taken active steps to address the problems associated with geopolitical or domestic political instability. Aside from the headline geopolitical risk, technology, cyber and data risks also trended higher compared to figures from 2013, with cyber security perceived as posing the greatest threat to financial services with 17% expecting a very negative impact on profitability in that area.