5 reasons why you may need a Political Risk Assessment
When you are operating a business it is important to be conducting it in an ethical way. Not doing so can not only lead to prosecution but really damaging your company reputation and could end your business. With the world becoming more and more global it is important that you comprehend the politics in different areas that could impact your business decision making. There are political risk assessors that you can hire to assist you with this. Clearly politics around the world is extremely complicated and changes at immense speed so here are 5 reasons why you may wish to consider a political risk assessor.
Globalisation – If you are considering moving elements of your business to another country then it’s important to understand the politics and culture in the said country. Things like export control may play an important part depending on the industry you are in. For example, if you are in the aerospace or defence business, doing trade with a company that there is a potential conflict with can be illegal. If you do not get this element right then it can get you into a lot of trouble therefore it could be better to get advice.
Security Consulting – Another complex topic where it is not the same for every type of business. If you are transporting goods from one to another then again you may need security engineering and advice which could also include auditing. Included in this could also be security training for your own staff.
Investigations – Unfortunately you may need experts to support you with investigations. Examples of this could be around commercially someone has breached your intellectual property rules and has exposed some of your product confidential information. In addition to this, investigations could include background screening of other companies or even your own internal employees. Whatever the type of investigation that is required a political risk assessment company would be able to support.
Crisis Management –You may think it wouldn’t happen to you or your company employees but it can. Hostages, terrorism, kidnap or death threats are all topics that would be covered under crisis management. Clearly good independent advice would be required in any of these specific situations in order to defuse it but also ensure the safety of your employees is put first with your business not being compromised.
Information Services – If you have people travelling around the globe then it is important to recognise the risk of these employees going to another country. The information services will ensure you are kept up to date with all the latest potential risks and dangers. In addition they will assist you with pre travel information as to different locations in the region that there may be unrest and what to look out for. This is a service that ensures all your employees have the correct efficient information in order to minimise the risk of something going wrong when in a different country.
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