For decades, Europe’s private sector did not have to think about war. The end of the Cold War and the steady advance of globalization led to a feeling that peace on the continent was inevitable. Companies’ only concerns were their profits and their responsibilities to stakeholders. If there were any geopolitical concerns, they were about the details of free trade agreements and harmonization of international regulations. Geopolitical competition—much less open warfare—simply didn’t enter the equation.
All of this has changed, not only due to Russia’s full-scale invasion of Ukraine in 2022, but also Donald Trump’s return to power in the United States and China’s growing assertiveness. Europe is in a new era of strategic competition.
Importantly, governments and their militaries are not the only ones who must adapt. Private sector businesses also must rethink their operating models to meet the challenges of this new reality.