Risk management key for Irish co-ops in face of new challenges

Risk management key for Irish co-ops in face of new challenges

The importance of efficient risk management in Irish co-operatives was underlined at the 42nd Irish Co-operative Organisation Society (ICOS) National Conference earlier today (Thursday, November 8).

This comes as co-ops and marts face increased challenges from a variety of angles including environmental sustainability, mart health and safety, spiralling insurance costs and Brexit and CAP reform.

However, should these risks be managed carefully, opportunities arise, today’s attendees heard.

“Risk and opportunity must be seen as two sides of the same coin where – if we can effectively manage, embrace and monetise the risks that surround us – then our businesses should continue to grow and prosper,” ICOS president Michael Spellman told the gathered visitors in Naas, Co. Kildare.

L_R: John Jordan, Ornua; Michael Spellman, ICOS president; Fiona Muldoon, CEO, FBD; and TJ Flanagan CEO, ICOS. Image source: Alf Harvey

The conference was attended by co-operative leaders from all over Ireland, including dairy processors, national livestock marts and community based enterprises.

It was addressed by high-level speakers including: FBD CEO Fiona Muldoon; John Jordan, CEO of Ornua; Guy Smith,…

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