Political risk is the probability that a particular political action will produce changes in economic outcomes. A risk picture that is restricted to the financial component is deficient. A risk-aware culture incorporates, in strategic planning, the insights gained through identification and analysis of risk assessment and risk appetite. Political risk is the probability that a particular political action will produce changes in economic outcomes. A risk picture that is restricted to the financial component is deficient. A risk-aware culture incorporates, in strategic planning, the insights gained through identification and analysis of risk assessment and risk appetite.No strategy or risk management process is comprehensive if it does not include the possibility of "abnormal" times. External risks are largely uncontrollable for an organisation. Environmental scanning is thus critical to detect any changes on the horizon and to notice early warning signs that can pose a strategic ri...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.