Subscribe To Our E-Newsletter
Follow Us On Twitter
Privacy And Cookies
Established 1996
Monday 23 April 2018

BREAKING NEWS

2018 predictions: Market and consumer sentiment will change the way companies operate

Written by John Palmiero, senior vice-president, EMEA, MetricStream
2017-11-28

The business landscape is more unpredictable than ever. Wildly changing external factors including geopolitical risks, regulatory change, technological innovation and consumer sentiment and unrest are more forcefully shaping how businesses act. This is driving the acceleration towards more holistic risk and compliance management. The two functions can no longer be siloed, but instead pushed as a single operation that can be used by upper management to make informed decisions.

In regards to changing consumer sentiment, we’re soon going to see one of the disruptive internet-based companies become truly unstuck. For too long they have been able to act outside of regulations – conducting themselves in ways that perhaps even place customers at risk. They bank on their services creating such convenience that the consumer support generated makes it too much of a beast for regulators to tackle. However, as more examples of unethical behaviour – such as unvetted employees, concealed data breaches or links to illicit material – come to light, that support is being rapidly eroded.

The speed with which consumer sentiment can switch is forcing businesses to look inwards at their own internal processes and implement self-governance. Consumers want to buy from companies that they believe are operating ethically, so businesses must take it upon themselves to ensure that these standards are adhered to throughout the entire enterprise. Furthermore, keeping operations consistent makes them more resilient to outside changes and helps to ensure continuity even during the most testing of times.


Related Articles

Power transmission and distribution risk
Description
Mark Evans talks to Barry Menzies, head of MIDEL ester-based dielectric fluids, at specialist manufacturer M&I Materials, to discover how ester fluids can help reduce the risks associated with transformer applications.
Most read stories...
World Markets (15 minute+ time delay)
FTSE
7,390.77
+22.60
S&P 500
2,676.78
+6.64
Nikkei 225
22,088.04
-74.20



Download the latest
digital edition of
CIR Magazine


AdvertisementAdvertisement