Geopolitics will have an even bigger impact on business in 2024

That trajectory is likely to accelerate in 2024, with over 70 elections in countries around the globe, and more people voting than ever before.

A ground war in Europe, a renewed conflict in the Middle East and growing tensions in Asia have forced corporate leaders to become more savvy about geopolitics. The speed and volume of information consumption mean that complexity will continue to grow.

The explosion of access to information, driven by technological advances, has generated pressure for business leaders to weigh in on difficult and nuanced issues. Some of this has been driven by employees looking for their company to project and defend their own values.

Responding to this pressure is difficult because the digital revolution has made politics more unpredictable, disinformation more prevalent and corporate positioning harder to calibrate.

Information overload demands rapid responses while punishing errors and misjudgements.

Many companies have learned the hard way that they should have better prepared for the communications consequences of global crises. We saw this with Russia’s invasion of Ukraine, where reputations and bottom lines were damaged by negative coverage, reversals of untenable positions and boycotts. Companies’ public stances on the Uyghurs and Xinjiang have had operational repercussions. And businesses have struggled to articulate their position on the terrorist attacks in Israel and the crisis in Gaza.

So what should companies do to prosper in a volatile 2024? There is no one-size-fits-all answer. But here are a few of the steps that we advocate:

1. The first is easy to say and difficult to do: think ahead. Where could an issue go? What might the various actors do next? Test your actions and messaging against future scenarios. Use external expertise. And make sure you have the capabilities and culture to react quickly to evolving events.
2. Agree on your priorities before a crisis emerges. What are the issues that are fundamental to your business and where will stand your ground? Defend and promote those positions, and resist being drawn into less central issues.
3. Seek out a range of perspectives and consider how different audiences might react to your messaging. Decide in advance how you’ll bring the right people to the table quickly. Incorporating a diverse set of views in data-gathering and decision-making doesn’t mean catering to everyone’s opinions. Focus on what matters most to your business.
4. Lean on partners. You’re unlikely to have all the experience you need in one organisation. We’re writing this jointly because we saw firsthand how much the US and UK intelligence communities benefitted from working alongside each other, and the same is true in business. Establish networks across markets, countries and issues. Make your friends before you need them. You might find you need them in 2024.

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Brittany Bramell Punaro is the former director of public affairs at the Central Intelligence Agency, and co-founder of DC-based strategic communications advisory firm Steer PR. Mikey Hoare is former director of national security communications in the UK Government, and director at global strategic communications advisory firm Kekst CNC.