Being in the risk management business, it’s part of my job to monitor what’s being said about risk around the world. A recent discussion on the BBC Radio’s Today programme – the premier source of quality morning news in the UK – pointed out that the concept of risk has become so ubiquitous that the word features in at least one of their news item every single day. Since then I’ve been keeping a mental checklist and it’s true that it is mentioned in at least one context or another each morning.
But now risk is really taking center stage. At the upcoming World Economic Forum in Davos-Klosters, Switzerland 23-27 January, which brings together political, academic and business leaders to “shape global, regional and industry agendas”, the “R-word” features 3 times in the opening paragraph of the event’s executive summary alone. And perhaps more interestingly, risk is seen as a positive and the way to drive growth.
To quote the Davos 2013 Agenda:
“…there is no “risk-off” setting for the global economy, but leaders from the public and private sectors need to adopt a “risk-on” mindset to catalyse dynamic growth. Dynamism in this context requires successful organizations to demonstrate strategic agility and to possess risk resilience.”
It will be interesting to see how the discussion on risk proceeds when the global leaders assemble in a couple of weeks and how they energize the world to take smarter risks. In the run up to the event, why not keep your ears open and see how many times the “R-word” gets mentioned in the daily news in your country and if context is increasingly positive?