Risk-taking companies cope better with pandemic

Companies that are willing to take risks have so far been more successful in overcoming the Corona crisis than companies that have been risk averse. This is one of the findings of the BDO Global Risk Landscape 2021, a survey of 500 high-ranking global business leaders. However, risk-taking is easier said than done: around a quarter of the business leaders surveyed admitted that their company did not adapt to the pandemic as quickly as it should have. "Uncertainty or deliberately waiting for more clarity about the pandemic" was cited by around 60% of respondents as the biggest obstacle to rapid response. Waiting for certainty in decision-making, however, proved risky. More than half of all risk-taking entrepreneurs said the impact of the pandemic on their business had been "less significant" or "much less significant", contrary to their expectations. Only 16% of the risk-averse companies shared this assessment.

This year's "Global Risk Report" examined the mechanisms of decision-making under pressure and great uncertainty. The most important finding: agile thinking and action are indispensable. Especially in the face of uncertainty and poor information, companies must be prepared to react flexible and adapt to new situations at short notice.

The sixth edition of "Global Risk Landscape" draws on the assessments and insights of the 500 business leaders surveyed and highlights the characteristics of the entrepreneurs who adapted best during the pandemic. From blame and challenges to responsive decision-making and the use of technology and associated risks, the report looks at all aspects of risk management and mitigation.

Download the full Global Risk Landscape 2021 report to learn more: