Risk language barriers in a globalized world: Insights from female managers from Slovenia

Abstract

Background: In today's interconnected and globalised business environment, effective risk management is essential for organisations to achieve sustainable success. However, communication and understanding risks across cultural and linguistic boundaries pose significant challenges. This paper explores the concept of risk language barriers and their impact on corporate management and performance. Purpose: This research examines the causes, consequences, and potential solutions to overcome risk language barriers in a globalised world. By shedding light on the importance of effective risk communication in a diverse and interconnected business environment, the study seeks to provide insights into the significance of addressing these barriers for successful management outcomes. Study design/methodology/approach: The study conducted in Novo Mesto, Slovenia, in February 2023 uses data from in-depth interviews and a focus group to investigate risk language barriers. The participants are women entrepreneurs with prior experience in cross-cultural communication and managing people in different countries, e.g. a Slovenian sales guru with a penchant for transcending borders and a Maltese digital strategist who, through global collaboration and expertise, ensures that every corner of the Slovenian organisation aligns with its overarching goals. Their experiences explore the challenges of risk language and the need for intercultural communication skills. Findings/conclusions: The research findings indicate that addressing risk language barriers is a strategic imperative for achieving successful management outcomes in a globalised business landscape. Overcoming these barriers requires a collaborative and proactive approach to risk communication. Developing intercultural communication skills allows individuals to navigate diverse environments effectively, provides them with more excellent networking opportunities, broadens their horizons, and fosters personal development. Furthermore, managers can strengthen relationships with clients and partners worldwide by addressing risk language barriers effectively. Limitations/future research: The study has limitations regarding its focus on women entrepreneurs. Future research should include diverse demographics and industries, conduct quantitative analyses, and explore technology's role in bridging the risk language gap and associated challenges.