Look at the different stages of a transformation’s life cycle to understand where value is lost and what companies can do to preserve it. According to McKinsey’s analysis, three core actions of a transformation are especially predictive of value capture—and the companies with successful transformations are more likely than the rest to pursue the specific tactics that support them.

The UK must be better at anticipating, preparing for and responding to a range of challenging risk scenarios, including those which it has never experienced before. The report emphasises that the Government’s current strategy of centralised and opaque risk assessment and risk management, which fails to make adequate preparations, has left the UK vulnerable.

Companies are moving to a risk-based cybersecurity stance. The approach recognises that not all assets are created equal, nor can they be equally protected in today’s all-encompassing digital environment. Some assets are extraordinary—of critical importance to a company and its business. The digital business model is, in fact, entirely dependent on trust. If a company’s customer interface is not secure, the risk can become existential. Safeguarding such assets is the heart of an effective strategy to protect against cyberthreats.

The COVID-19 pandemic offers valuable lessons on risk and resilience. The pandemic revealed fault lines within many organisations, and degrees of systemic risk that few organisations previously considered. A lack of business continuity planning, the breakdown of supply chains, and overall stresses on business operations have brought to the forefront the need to reimagine approaches to managing enterprise risk.