The India Risk Report 2024, jointly published by ICICI Lombard and the Institute of Risk Management (IRM) India Affiliate, highlights the growing importance of fostering a strong risk culture as a cornerstone of organisational strategy. The report introduces a simple A-B-C framework to explain how individual and collective Attitudes shape Behaviours, which, over time, evolve into an organisation's Culture—ultimately reinforcing the way risks are perceived and managed.
Drawing on a comprehensive survey of risk perceptions, management practices, and organisational culture across Indian enterprises, the report offers valuable insights into the state of risk preparedness and resilience. It highlights the need for proactive risk management while providing organisations with practical recommendations to strengthen governance, navigate an increasingly complex risk environment, and drive sustainable growth.
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