The risks associated with terrorism and conflict, whether real or perceived, are sufficiently high to cause many companies to take action. Political violence has, in the last five years, led:
- 41% of respondents to increase IT security
- 30% to review business partner selection criteria
- 23% to augment insurance spending
- 21% to increase employee safety training.
Larger companies in the survey are the most likely to take action although smaller companies should not be under an illusion that their size makes them less vulnerable.
Other key findings from the report include:
- 37% of companies say the risk of political violence has led them to avoid investment in certain territories over the past five years
- The most aware companies are taking steps to protect their increasingly global supply chains specifically against political violence
- Only about one-fifth of companies seek out specialist information on political violence risks, such as specialist private research, academic writings, or NGO reports.
- Accurate assessment of political risk and engagement with the broader community can be a source of competitive advantage
- Nearly one in four companies have no business continuity plan at all, and a further 14% say their plan is insufficient in light of current political violence
