Clients debate risk and relationships at Socia breakfast briefing

Socia has been quoted in the press on a number of occasions recently discussing the issues in managing risk across business relationships. We decided to hold a breakfast meeting on last week to hear what our clients thought about the subject. The top three points they raised were:

• There is always a conflict between the opportunities for innovation and the dangers of uncontrollable risks in a relationship – leaders need to find ways of making this explicit and talking different appetites for risk and need for innovation amongst partners.
• Most disasters are predictable – even if these predictions were just based on a ‘gut feel’. There needs to be time for these unformed ‘gut feel’ risks to be discussed and legitimised by senior management
• Few risk registers accurately represent the top level relationship risks to the business – and these registers are little used by Boards

Click here to see a copy of the slides from the event.

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