The Importance of Risk Assessment in Unstable Conditions

The ability to calculate risk means the capacity to predict internal and external organizational changes.
From the perspective of predicting internal organizational changes, it is clear that the greater the organization’s ability to generate and analyze information within its operational processes, the greater its ability to anticipate and respond to those changes.
However, from the perspective of predicting external organizational changes, a completely different approach exists. A department that is often overlooked in corporate organizational structures—or, in many cases, not even accounted for—is the Risk Management and Strategy Management unit. These two departments can consist of experts from various scientific fields, including economics, production, engineering, law, marketing, and even political science. Undoubtedly, under the coordination of a unified secretary or coordinator, they will play roles tailored to specific issues.
Generally, the more unstable the environment in which an organization operates, the greater the likelihood of unforeseen events that can affect the organization's conditions. The ability to predict such events largely depends on the knowledge and awareness of the Risk Management unit.
The disruptive impact of the truck drivers' strike on the operational cycle of organizations—whether production-based, commercial, or service-oriented—is undeniable. Clearly, those units that proactively monitored the consequences affecting their operations with greater knowledge and awareness, and responded more swiftly, suffered less damage. Following this event, the 12-day war, extreme currency fluctuations, government-imposed exchange rates, stock market volatility and closure, population displacement, and many other incidents—each on their own—had the potential to inflict serious harm on the functioning of various units.
To conclude, it must be emphasized that any organization—regardless of its field of activity or geographical location—must, through the analyses provided by its equipped Risk Management and Strategy units, continuously anticipate the possibility of unforeseen events and prepare itself to confront them effectively.
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