An interesting article from Foreign Policy regarding the new role geopolitics is playing in the boardroom. Risk and resilience has been long been part and parcel of every major consulting firm however it’s taken on a new focus area, geopolitical uncertainty.
There was a spike during the pandemic with every government rushing to engage specialists on how to become more resilient to future events and these elements of best practice are now being viewed through the lens of wars and increasing global tensions. Ukraine and Sudan are in the forefront but listing off other flashpoints and ongoing conflicts here would take far too much time for a light read.
This article focuses on private companies and the staggering losses they have faced from withdrawing from sanction hit nations, upset heads of state and disruption of supply chains. Such is the extent of these hits that some firms are taking action to create AI powered risk databases to ensure all of their executives are up to date on any countries they are operating in and where action is needed.
Consultancies are continuing to develop in this area and the rise of a number of specialist boutiques over the past few years to compete with the traditional market is a positive. If you’re interested in political consulting, risk or global affairs get in touch!
- by Davey Peyton