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An example of a core business driver may be that the entity is known for providing top-notch customer service and would like to protect and enhance that competitive advantage. An example of a new strategic initiative may be that the entity is hoping to expand its online offerings beyond what it provides today. This tool could be used to help business leaders analyze the risk to either one of these important aspects of their business.  \nHOW TO USE  \nUnderstand the Core Business Driver or Strategic Initiative: The template first prompts (see Sections A-C) business leaders to understand the core elements of the core business driver or new strategic initiative. In Section A within the top half of the template, business leaders are prompted to think about “what must go right” for this core business driver to continue being successful or “what must go right” for the new strategic initiative to work effectively. Then, Section B of the tool prompts business leaders to identify what assumptions they are making about the entity’s ability to be successful with that core business driver or new strategic initiative. Every business has to make assumptions about the future given no one has a crystal ball to see into the future. It is important to understand what assumptions the entity is making about the future. Finally, Section C of the template prompts business leaders to consider how the success of a particular core business driver or new strategic initiative might impact other aspects of the organization.  \nIdentify Risks that Threaten the Core Business Driver or Strategic Initiative: The bottom half of the template (see Sections D-F) is where business leaders will begin to identify potential risks. Section D of the template prompts business unit leaders to think about what risks might  \nemerge that impact what must go right for success to continue. For example, perhaps business leaders note that employees must have deep knowledge of the entity’s core products and services in order to provide high-quality customer service. A potential risk might be that high turnover of knowledgeable employees may occur making it difficult to provide high quality customer service. Section E in the template prompts business leaders to consider factors that might impact key assumptions. Users of the template might identify risks to the entity due to changing or inaccurate assumptions. Those risks would be summarized in Section E.  \nFinally, Section F of the template prompts business leaders to consider how success with the core business driver or strategic initiative might actually create other risks for the entity.  \nThis tool is copyrighted by the ERM Initiative in the Poole College of Management at North Carolina State University (2024) .  \nQuestions: [contact ERM_Initaitive @ncsu.edu. Visit](contact ERM_Initaitive @ncsu.edu. Visit) [us at erm.ncsu.edu](us at erm.ncsu.edu)  \nERM RESOURCE CENTER [www.erm.ncsu.edu](www.erm.ncsu.edu)  \n\n| Part l: Strategic Risk Analysis Template\u003Cbr>Identifying Potential Risks to Important Strategy |  |  |  |\n| --- | --- | --- | --- |\n| START WITH UNDERSTANDING STRATEGY |  |  |  |\n| KEY VALUE DRIVER | SECTION A:\u003Cbr>KEYS TO SUCCESS OF DRIVER\u003Cbr>What must go right for value driver to be successful?(Key people, processes, technologies, etc.) | SECTION B:  BIG ASSUMPTIONS\u003Cbr>What are the big assumptions being made? | SECTION C:\u003Cbr>IMPACT OF EXTREME SUCCESS?\u003Cbr>How affect other parts of our business? |\n| Example:\u003Cbr>The organization is well-known for its excellent customer service and would like to preserve and enhance that competitive advantage. | In this section, brainstorm about what must continue going right for the entity to","cbCairE5goRgpMmF","https://ap.wps.com/l/cbCairE5goRgpMmF","pdf",574932,"English","# Using Strategic Risk Analysis to Identify Potential Risks to Strategic Initiatives\n## Start with Understanding Strategy\n## Applying Strategic Lens to Pinpoint Potential Risks","[{\"question\":\"How does the template help leaders define what must go right for a strategy to succeed?\",\"answer\":\"It prompts leaders to identify the core elements of the core business driver or strategic initiative, focusing on what must go right for continued success and effectiveness.\"},{\"question\":\"What do Sections A, B, and C ask users to consider?\",\"answer\":\"Section A captures keys to success of the driver, Section B identifies the big assumptions being made, and Section C explores the impacts if extreme success is achieved.\"},{\"question\":\"Where does the template focus on identifying potential risks?\",\"answer\":\"The bottom half uses Sections D–F to pinpoint risks to the keys to success, risks triggered by assumptions, and risks that could emerge from extreme success impacting other business areas.\"}]","Using Strategic Risk Analysis to Identify Potential Risks to Strategic Initiatives | PDF",1789153600]