Companies that want to succeed today must prepare, diversify, and be geopolitically aware… so says the keynote speaker at this Thursday’s Chamber of Commerce AGM
“The era of efficiency is over and the era of resilience is here.”
This from Stefano Moritsch, Global Geopolitics Lead at KPMG International, who is returning as keynote speaker at this Thursday’s Chamber of Commerce Annual General Meeting.
Last year, he told businesses that the US-centred predictability of the last three decades is over, as China and others look to challenge the status quo, and the US itself takes a more protectionist approach to trade policy.
He also said that a lack of global leadership is putting global shipping routes at risk.
Fast-forward to today, and the U.S.-Israeli war with Iran has resulted in the largest-ever disruption of global oil and gas supplies due to Iran’s interruption of traffic through the strait of Hormuz.
The situation around the Gulf states is only one disruption in this new era. Building resilience is the key, Mr Moritsch says – and doing that itself will be disruptive.
Ultimately, he says, businesses must practice ‘anti-fragility’… “So not only being able to withstand the crisis, but thrive from a crisis, and be better after a crisis.”
In that context, we raised a question ourselves about Bermuda’s resilience – in terms of getting goods to the island…
WATCH the report above.
