• #ArticlePegged

The government: business relationship

As a private sector firm, with deep government experience, we see the value in business and government working more closely together. Private sector firms can benefit from better understanding the complexity of government decision making; and government could better understand the value the private sector can unlock for the economy and the the community. This #articlepegged by McKinsey&CompanyHow business interacts with government: McKinsey Global Survey results” provides some valuable insights on this issue. Read an extract below or the full article here.

A strong majority of executives say business must proactively and regularly engage with government, even though many find that dealing with government is often frustrating and consider government officials to be uninformed about the economics of their industries. Yet companies aren’t doing as much to counter those problems as they could; for example, only a third say their companies are “extremely” or “very effective” at building strong relationships with key government stakeholders. In fact, despite the variety of practices that can help a company successfully manage its relationship with government, a majority of companies aren’t effective at even one of them.