Para mi, la honestidad es fundamental en cualquier relación, ya sea personal o profesional. Al ser honestos, se fomenta un ambiente de confianza mutua donde las partes se sienten seguras al compartir información, preocupaciones o ideas. Esto no solo fortalece los vínculos, sino que también permite identificar y abordar posibles riesgos de manera temprana y efectiva, promoviendo una colaboración más sólida y transparente.

As Jim Rohn said, if you are not willing to risk the unusual, you will have to settle for the ordinary! In order to balance the risk of innovation with client - ➡️ Engage clients to clarify their objectives, tolerances, and desired outcomes, ensuring alignment between innovation and risk appetite. ➡️ Maintain open dialogue with client to manage expectations, emphasizing shared responsibility for risks. ➡️ Use structured frameworks to evaluate risks associated with innovative strategies, considering probability, impact, and mitigation measures. ➡️ Run a pilot to reduce risks associated, while demonstrating value. ➡️ Adapt strategies based on ongoing feedback and changing market dynamics to mitigate unforeseen risks.

-Foster a Risk-Aware Culture: Encourage calculated risk-taking and view failures as learning opportunities. This approach helps create an environment where innovation thrives while risks are carefully managed. -Integrate Risk Management into Innovation: Embed risk assessment and mitigation strategies throughout the innovation process -Leverage Technology: Utilize advanced tools and technologies to enhance risk identification, assessment, and monitoring capabilities. -Continuous Learning: Stay agile and adaptable by continuously evaluating and refining your risk management strategies -Seek Diverse Perspectives: Engage cross-functional teams and external partners to gain a broader view of potential risks and innovative solutions.

Balancing Innovation and Client-Centricity In Sony Founder Akio Morita-san’s Made in Japan, he wrote that innovation needs targets, just like sales. As a technocrat, I’ve always disliked targets, focusing instead on creating solutions. But in business, the reality is clear: “お客様は神様です” (Okyakusama wa Kamisama desu), meaning, “The client is a god.” Client needs must always come first, with innovation taking second priority. This balance ensures we meet expectations while driving growth through creativity. #BusinessWisdom #ClientFirst #Innovation #AkioMorita #MadeInJapan #CustomerIsKing

As an Executive Director, navigating the fine line between innovation and risk requires a strategic balance. It's about embracing fresh ideas and driving progress 💡 while carefully assessing potential risks. Clear communication with clients is essential to set realistic expectations and ensure they understand both the potential rewards and challenges. By fostering a culture of informed decision-making, we can innovate confidently while safeguarding the organisation's long-term success.

I agree with much of what has been said, especially being ready to pivot if actions and effects aren’t lining up with expectations. Two things I would add: 1) Approach innovation with market mindset. Have a point of view about why the market will value your innovation beyond its cost. Too often I have seen cool innovation initiatives drift into personal science projects, losing site of the notion that those taking the risk expect a return for doing so. Which brings me to… 2) Beware agency issues whereby the decision maker is dissociated from the risk bearer. Not to say that your skunkworks leader suffers personally if things don’t work out, but make sure everybody who is taking a risk is aware that they are doing so and is supportive.

First of all innovation means taking a risk and now how can you minimize or balance between risks and innovation. Listening to customers is key Innovating means also pioneering. As a pioneer you will face issues and problems. Please always remember this is absolutely normal. No one make this possible before you. Stay tuned Risks minimizing means to set clear milestone and set clear goals for every milestone up to the targets. After all flexibility is key when innovating