In today's rapidly changing world, effective risk management is more crucial than ever for boards of directors. As organisations navigate complex economic and geopolitical landscapes, the ability to anticipate, assess, and mitigate risks can make the difference between success and failure.In this episode, Ben Walker explores the intricacies of risk management with Professor Bryan Foss (Co-Founder and director of the Risk Coalition and Chairman of Hope Macy) and Patrick Dunne (Chair of the Royal Voluntary Service). Both bring a wealth of experience and insights to the table, offering valuable perspectives on how boards can better manage risk.For further information, read these insightful blogs by our guests that complement the episode, and dive into the topics covered a little deeper:· ‘Is my board growth or risk focused?’, by Professor Bryan Foss· ‘Thinking about Risk - Time to Change’, by Patrick Dunne
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35:56
Innovation: Why is Europe falling behind the US?
Europe's innovation scene has found itself under the spotlight, with many wondering why it's lagging behind the US. Limited funding for startups, a fragmented market, and tough regulations are often blamed.In this episode, Dr. Erin Young (IoD Head of Innovation and Technology Policy) and Professor David Beatty OBE (Professor Emeritus of Strategy, Rotman School of Management, University of Toronto) join host Ben Walker to explore this further. Together they discuss cultural attitudes towards risk and entrepreneurship, the impact of regulatory rules, and how quickly tech is adopted. The conversation also covers how people view innovation and technology differently in Europe and the US, and the fear factor around new advancements. Drawing on their experience from different sides of the Atlantic, our guests suggest ways to tackle these challenges and boost innovation across Europe.
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30:46
Moral Dilemmas in the Boardroom
In the boardroom, directors often face tough decisions thatbalance competing interests and moral norms - impacting employees, customers, shareholders, and society. These decisions are frequently misunderstood, criticised,and sometimes seen as unethical, potentially harming corporate reputation. Despite their significance, we rarely ask: How are these decisions made? What role do moral norms and identity play? And why do companies sometimes misinterpret these norms so badly?In this episode, Ben Walker is joined by Prof. Dr. Mijinte Luckerath-Rovers (author of ‘Moral Dilemmas in the Boardroom’) and Dr Roger Barker (IoD Director of Policy and Corporate Governance) to discuss ethical challenges in the boardroom and the decisions that often stem from them. The conversation draws on both the findings of Mijinte’s book, and the IoD’s Code of Conduct for Directors.
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35:37
Getting closer to Europe: What are the options?
The UK’s relationship with the EU is in the spotlight this year, as both sides prepare for the review of the Trade and Cooperation Agreement. And in light of an unpredictable US Administration, the reset of relations is ever more important. But the politics has always been a barrier to real policy change. In this episode, Tom Bruffato (Director of Policy & Research at Best for Britain) and Emma Rowland (IoD Trade Policy Advisor) sit down with Ben Walker to discuss what can be realistically done to bring the UK and EU closer. The pair both draw on recent polling conducted by their organisations to propose possible solutions - from closer alignment on regulation to a Youth Mobility Scheme to a veterinary agreement.
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40:14
Trends, risks and opportunities for business in 2025
At the end of November 2024, IoD members were asked to
assess the main challenges facing their businesses.
Unsurprisingly, domestic concerns ranked high on the list, especially the future outlook for the UK economy and the impact of recent government policy decisions, such as the hike in employers’ national insurance and proposed changes to UK employment law.
However, UK businesses must also navigate a bigger picture
this year, consisting of global economic trends, geopolitical tensions and technological transformations.
In this episode, Dr Roger Barker (Director of Policy at the Institute of Directors) joins Ben Walker to explore the trends, risks and opportunities facing UK business in 2025.
UK