Every business thinks of the major risks that they face during the course of the year, but there are some risks that are not given the proper attention that is deserved.  Here’s a listing of 10 “Rodney Dangerfield” risks that don’t get the respect they deserve.

  1. Reputation – Got a plan in place if your company or brand reputation is soiled? 
  2. Succession Planning – Is there a plan in place if key people in your organization are no longer there?  Who takes their place, who is the knowledge expert to keep that part of your business going?
  3. Identity theft – It doesn’t just happen on credit card transactions.  What’s the plan if your HR system gets hacked and social security numbers of your employees along with other sensitive information is taken?3. 
  4. Economic instability – Lots of people didn’t see the economic downturn coming, did you plan for the changes in revenue? 
  5. Pandemic fever – Real or imagined, have you thought about how a pandemic (Swine, Avian, Spanish, blue flu or other global, national, regional, or local illnesses) will affect your day to day operations?
  6. Fraud – You have probably put great controls in place at many of the financial touch points.  What about some of the less obvious ones?
  7. Sales and usage tax – State and local governments are looking to collect all the   to them, are you collecting or paying your fair share on things you buy and sell?
  8. Technology - Keeping up on the latest trends in your industry to see if you are ahead, even, acceptable or behind the technology wave.   Are you providing your customers with acceptable technology for the product or service you are providing?
  9. Government regulations – This doesn’t have to be just the local government, but also in the countries you are sourcing products or services from.  Are you in tune with legislation that may affect how you conduct business? 
  10. Supply chain disruption – How do you react to product lost in transit, a port shut down because of a longshoreman’s strike, and other threats to getting your product to market.  Remember, supply chain is not just about products, it can also be about services, such as the IT contractor for the new project not being available to begin on the expected start date, or your project manager taking a bit longer to complete their previous project than anticipated.

So there’s 10 risks that fly under the radar, and I am sure that you have run across many more.  Let me know your thoughts, and other items which should be added to the list.