Once again, the World Economic Forum has developed this annual report to identify, understand, and navigate the ever-changing risk landscape. Of course, the adverse impacts from the pandemic are front and center in this report; especially related to short term impacts. The pandemic also showcased the ability and necessity for collaborative leadership around global risk. Longer term, however, the report is dominated with risks related to digital dependency, cyber threats, climate change impacts, increasing gaps in economic and educational opportunities, and a debt crisis.
Many global risks often feel like they are beyond the control of mid-sized businesses in the upper Midwest, however, their impact will most likely be felt. While there may not be tangible actions to take around all of these for a small business, it is a good annual exercise to read the report and consider the potential impacts to your business.