Infographic | 2024 Top Risks for Innovation and Transformation Executives

Innovation execs cite disruptive tech, workforce challenges among top risks

Innovation and transformation executives identified the biggest threats impacting their organizations in Protiviti’s 2024 Top Risks Survey. The executives’ perspectives on risks, listed below, reflect increasing concerns over emerging technologies, workforce challenges, limited growth opportunities, and customer loyalty.

Innovation and transformation leaders often oversee how an organization can best navigate today’s complex and dynamic landscape – where new technologies, customer expectations, and market conditions all intersect. Success requires a combination of vision, strategic planning, and effective execution, along with the ability to adapt to unforeseen challenges and opportunities.

Uncertain economic conditions, continuously rising customer expectations, and increased competition for customers create a challenging environment. To effectively compete, organizations must double down on understanding your current and future customers – how to best meet needs, anticipate them and act quickly are critical. Leaders should reflect on the following:

• Taking a fresh look at defining your customer experience with an eye towards adaptability and flexibility
• Considering a customer centric operating model as true customer centricity impacts all of the organization
• Incorporating innovation into the fabric of the business model to enable fast evaluation and integration of new technologies

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