At a time when uncertainty and turbulence have come to characterize most global markets, a growing number of companies are struggling to avoid their own Kodak moments. This has resulted to a systemic shift among organizations such as Kodak who have responded by quickly formalizing risk assessment. Critically discuss the primary drivers of formalizing risk assessment for organisations such as Kodak by using relevant examples.

The response needs to prioritise on providing an account of the primary drivers that should be considered as influential for organisations such as Kodak to embrace risk assessment. It is important to provide context and the drivers thereof should be aligned to the organisation, in your response it should illustrate an understanding of what risk management entails and how organisations through the mentioned driver have prioritised it.