Any company with substantial exposure to Brexit that hasn’t yet devised contingency plans to deal with a range of outcomes, including very bad ones, is about as far behind the curve as Britain’s current government seems to be right now.
As Brexit Negotiations Start, Companies Need Contingency Plans
Any company with substantial exposure to Brexit that hasn’t yet devised contingency plans to deal with a range out outcomes, including very bad ones, is about as far behind the curve as Britain’s current government seems to be right now. After a surprising parliamentary election result, uncertainty surrounds how the UK will handle the upcoming Brexit negotiations. Apart from throwing one’s own prediction onto this heap, what can we say about what we have learned from the latest British general election and what businesses should be doing to prepare? Leaders should consider four points: First, sociopolitical forces are taking new prominence in market strategy; next, it’s important to identify regularities amid persistent uncertainty; third, understand the law of distance, or how geographic and cultural boundaries affect economic activity; and last, waiting and watching what happens with the Brexit process is no longer enough.