When it comes to external threats facing businesses in 2024, taking pre-emptive steps to adapt and protect your organisation, and having the ability to act fast, are going to be key to mitigating the potential damage that such threats can cause. Traditionally, competitors might have been seen as the greatest threat to a business. Now, growing pressure from customers, investors, and other stakeholders shaping business strategy and risk management, as well as, of course, the activity of 'bad actors' are the greatest risks to a business's success.
It's time to get ahead of the curve. Taking a purely reactive approach to external threats won't be sufficient to protect your business effectively and risks damage to reputation or even worse, business failure. Preparing for the unexpected is key. Taking steps like reviewing existing relationships, ensuring robust procedures and protections are in place, implementing rigorous decision-making processes and having a crisis management plan are all key.
We focus on three key areas which we predict are likely to threaten businesses if not addressed and managed in 2024.
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