Edition #1 - The Role of Leadership in Managing Product Risks

A few years ago, at a company lunchtime BBQ, I found myself sitting across from the newly appointed CEO of the product business I was working with. He was new to both the business and the industry, and after some small talk, he asked me, “Fiona, is there a way for me to fully understand the risks associated with how this business operates and the products we have in the market?”.

Is this something you, as a business leader, have also thought about?

In many product businesses, after a period of smooth sailing, things often start to unravel. The cause isn’t always obvious—it’s rarely just one thing.

As your business grows, the risks evolve as well. Alongside increased litigation and financial pressures, there are rising regulatory demands, competitive pressures, and often, product quality issues that can erode brand trust. Product development timelines can spiral out of control, and leadership may start to lose confidence in their teams or supply chains.

The CEO at that BBQ wanted to understand the risks facing his business, and his instincts were spot on. Understanding risks isn’t just the responsibility of technical teams or compliance officers—it’s a strategic concern that affects the entire business. Businesses that take a structured and strategic approach to risk management gain a competitive edge. They prevent costly setbacks, build trust with customers and partners, and ensure long-term resilience.
For leaders, it’s about having enough awareness of product-related risks to ask the right questions and challenge the answers. Specialists within the business need to focus narrowly on their specific areas to achieve their goals, which is why effective risk management needs to start at the top. Risk management requires a broad view. When leaders engage, ask the right questions, and ensure the right strategies are in place across the business, the business as a whole learns and evolves. This process of improvement reduces uncertainty and builds confidence in the business’s product decisions.

In the next edition of this newsletter, we’ll dive into some of the early warning signs of unmanaged risk.