Around 40% of UK businesses believe that managing risks is the most important challenge, according to research by the Chartered Management Institute.

The research found that 32% suggest that developing talent is a significant issue, despite 60% admitting that skills and talent management is the key challenge currently facing UK employers.

The findings reveal that only 24% of businesses think it is a priority to keep abreast of technological change and 10% believe effective use of IT and communications is one of the biggest challenges for the UK.

Jo Causon, director, marketing and corporate affairs at the Chartered Management Institute, says: "Questions need to be asked about how UK organisations will be able to manage in the future, if they fail to address key operational issues. Rather than simply focusing on ‘what should be done today’ the inability to plan properly might lead to questions of a more critical nature; ‘what opportunities have I missed?’ or worse, ‘how did the organisation not see that coming?’."

The survey found the 16% believe the creativity and inventiveness is a top challenge and just 22% argue that it is important in today’s working environment.  

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