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Disruptive Innovation
from 2022 OnRisk Report
Definition:
We are in an era of innovative business models, fueled by disruptive technologies. This risk examines whether organizations are prepared to adapt to and/or capitalize on disruption.
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Analysis:
There is a fairly wide gap between the percentage of board members who see this risk as highly relevant compared to C-suite executives who do. Further, more board members perceive their personal knowledge of this very important risk as being high. However, board members may be overconfident in organizations’ capability to manage Disruptive Innovation as more board members see their organizations as having high capability to manage this risk than do members of the C-suite.
KNOWLEDGE AND CAPABILITY
Percentage who gave a rating of 6 or 7 on a scale of 1 to 7
RISK STAGE
Remained in Recognize
RISK RELEVANCE
Percentage who gave a rating of 6 or 7 on a scale of 1 to 7
– Disruptive Innovation
Quotes:
“It’s a matter of awareness and research…some [innovations] come and go but others hang around, like cryptocurrency.” –C-suite, Nonprofit
“We’re not innovative, change is very slow to happen. Everything is about bandaging… a preparedness and ability to adapt is not there.” –Board, Healthcare
