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https://www.technologydecisions.com.au/content/it-management/article/local-businesses-overconfident-underestimating-future-risks-1459820916>
"New research commissioned by McGrathNicol Advisory, in partnership with
YouGov, shows that a large majority of Australian business leaders are
overconfident and unprepared for future threats to supply chains.
After hitting a peak during the pandemic, concern over supply chain fragility
has waned, with nearly all (97%) of the 300 C-suite execs surveyed being very
or somewhat confident in their organisation’s ability to navigate risks.
McGrathNicol says an underestimation of future risk underlies this notable lack
of concern. The report also suggests a misinformed assumption that geopolitical
issues, cyber threats, trade disputes and other risks are not a major concern
for organisations contributes to the laissez-faire attitude.
For example, only 16% of Australian business leaders believe that geopolitical
risks will have an enlarged impact on their supply chain in the next 12 months.
And despite consecutive years of front-page, high-profile cyber breaches, 84%
do not believe that cyber threats will pose more of a risk to their supply
chain in the coming year.
“Australia is completely dependent on local and international supply chains and
digital networks. Australian businesses have their heads in the sand if they
don’t think that conflicts, cyber attacks or trade disputes, whether locally or
internationally, will affect them,” said Matt Fehon, Head of Advisory,
McGrathNicol Advisory.
“Geopolitical tensions or natural disasters are just as likely to shut down an
essential offshore software development team or call centre as they are to
disrupt physical supply chains like shipping lanes and ports. We believe this
data shows that business leaders have not grasped the impact that global events
such as US and Taiwanese elections, the Hamas–Israel conflict and other
regional disruptions will have on their ability to do business.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
