8 COMMON MISTAKES COMPANIES MAKE IN MARKETS WITH HIGH POLITICAL RISKS
The geopolitical and security situation around the world continues to deteriorate and it is increasingly challenging to evaluate potential scenarios and risk levels. In several key regions such as Asia Pacific, Middle East, Eastern Europe and the Baltics we see an increased risk of armed conflicts erupting or spreading further.
Political risks or government intervention can seriously impact your local business, your brand and the market value that you have built up over time. These types of issues affect business continuity, creates negative publicity and can easily spread to neighbouring markets.
Common mistakes in markets with high political risks include:
1. No Business Continuity Management (BCM) plan in place
2. No monitoring of media signals over time
3. Not knowing who the key players and decision makers are
4. No reliable network of partners or legal advisors
5. No back-up of local IT-systems and key documents
6. No succession plan within the local management team
7. No crisis management function or emergency response plans
8. Insufficient insurance coverage
SRS Security is a value-creating Security Risk Management company. We provide governments, corporations, organisations and private individuals worldwide with superior decision support, operational expertise and peace of mind. Our joint and low-key approach commences with our client’s business strategy throughout the implementation of tailored risk management solutions.