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Business Risks

8 Examples of Platform Risk

Platform risk is the potential for losses related to a platform that you use for a business. This is a type of technology risk that applies to platforms such as cloud, software platforms, hardware platforms, social media and any kind of technology that you build your business around. The following are illustrative examples of platform risk.
Financial Risk
The risk of financial loses related to the platform. For example, an influencer who invests in building an audience on a social media platform who is suddenly banned.
Market Risk
Developing things for a platform that doesn't do well on the market. For example, developing a game for a new game console that doesn't achieve much market share.
Cost Risk
If the costs of a platform increase, you may find it difficult to leave. For example, building a mobile app on a cloud platform that increases its fees or changes its pricing model.
Operation Risk
The risk of operational disruptions to the platform such as slow performance and downtime.
Discontinuation Risk
The potential for a partner to go out of business or to simply discontinue the platform.
Dispute Risk
The risk of some dispute with the platform that disrupts your business. For example, if you feel the platform overbills you and will not correct the error.
Concentration Risk
Concentration risk whereby a large percentage of your business is based on a single partner. For example, a video producer who only builds followers on a single social network who is exposed when that social network goes into serious decline for whatever reason.
Competitive Risk
The potential for your competitors to gain advantage over you due to your use of a platform. This can be seen in older companies that invested heavily in platforms that are now legacy such that they are expensive, slow and lack functionality.

Business Risks

This is the complete list of articles we have written about business risks.
Budget Risk
Capacity Risk
Country Risk
Customer Risk
Cybersecurity Risk
Dispute Risk
Enterprise Risk
HR Risk
Platform Risk
Progress Trap
Resource Risk
Risk Impact
Risk Measurement
Service Risk
Short Squeeze
Technology Risk
Weather Risk
Workforce Risk
More ...
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