IBM announced the findings of <A HREF="http://www-03.ibm.com/press/us/en/pressrelease/22499.wss">a major new study of over 1,200 Chief Financial Officers</A> and senior finance executives from 79 countries worldwide, which concludes that a surprising number of enterprises are not well prepared to handle the impact of a major risk event to their organization.

According to the study, in the past three years 62 percent of enterprises with over $5 billion in revenue encountered a major risk event. When a major risk event did occur--such as strategic, operational or geopolitical--42 percent of these enterprises were not well prepared for the event.