Over the last two decades, business leaders in the West have been responding to risks posed by profound changes in the global economy, in technology, and in demographics. The successful ones have, at least.
Businesses Can No Longer Avoid Becoming Political
It’s now a fundamental part of strategy.
April 19, 2017, Updated April 20, 2017
Summary.
Business leaders have been dealing with the direct, market-based risks presented by major economic, technological, and demographic trends. But these trends, and the business responses to them, also carry secondary, non-market risks – risks which may turn out to be even greater. Having navigated globalization and rapid technological change, businesses may be scuppered by the social and political responses to them. Effective risk management requires business leaders to attend closely to these non-market threats, and to develop non-market strategies. When the public and politicians see businesses as agents or enemies of social policy, businesses cannot avoid becoming political.