Alliance published its risk barometer for 2023. According to the report, cyber and business interruption top the list of threats, economic and energy risks rise.

Cyber incidents and Business interruption ranked as the foremost company concerns for the second year in a row. Macroeconomic developments such as inflation, financial market volatility and the threat of recession, shortage of skilled workforce, and natural catastrophes round out the top five for the United States. View the full global and country risk rankings.

Here are five strategies you can use:

1. Business interruption - Plan for disruption and establish alternate channels in your supply chain. Tune up your disaster recovery and business continuity policy.

2. Cyber incidents - Review your product and services to establish cybersecurity as part of your strategy for acquiring and retaining clients. Cybersecurity capability is now a possible competitive advantage to build trust in the marketplace. Of course, you also want to make sure that your cybersecurity policy is clear and tested.

3. Macroeconomic developments - Tune your value proposition to accommodate inflationary pressures on your pricing while making sure you're delivering the value that your customers need in changing market conditions.

4. Shortage of skilled workforce - Establish repeatable and scalable processes, teaching your employees how your company delivers value. Make sure they have the right technology tools and software solutions to do their job. Even more importantly, make sure that they know when to use software and when not to. All of us get too many emails and thoughtless communications. Let's simplify the technology we use.

5. Natural Catastrophes - Get insurance against catastrophe. Prepare for disruption to business with a full sales pipeline so that if you have supply chain or natural disaster disruption, you can redirect resources to other areas of revenue generation.

Whether you are the CEO, CFO, COO, President, or Managing Director, make sure to take the time to assess and plan for risks as part of your strategy for 2023 and beyond. Reach out if you would like help.