A new survey from Deloitte and Forbes Insights, entitled Aftershock: Adjusting to the New World of Risk Management, reveals that fewer than 25% of United States executives, including many working at multinational companies, report that their global organizations continuously monitor risk.
Moreover, while majority of respondents anticipate the global economic environment to remain the greatest source of risk through 2015, more than one in four (27%) predict risks posed by social media would play an increasingly important role.
“Social media wasn’t even on the radar a few years ago—now it’s ranked among the top five sources of risk—the same level as financial risk,” said Fadi Sidani, partner in charge, Enterprise Risk Services, Deloitte Middle East. “The rise of social media is just another contributor to volatile global risk environment that companies are being forced to navigate. The current marketplace seems to require that global organizations be nimble in their risk assessment approach, whether it’s dealing with what employees post on social networks, or how they’re coping with global regulatory changes or taking advantage of the opportunities that rewarded risks can create.”
In the Middle East alone, more than 86% of active web users use social media to get news, information and advice on various issues. In addition, 70% of users have indicated that they use social media to voice their opinions, according to the report. As such, social media has become a top concern for executives across the Middle East.