The UK — and everyone else – are anxiously awaiting March 29 when Article 50 will either be extended or revoked. If neither occurs, the UK must leave, deal or no deal. Only a few weeks away, one thing is certain. Everything will change. Brexit could turn UK trade on its head.
Brexit is forcing organizations to cope with immense uncertainty. How does a business strategically plan with an unknown number of unknowns? The anxiety of Brexit has halted UK companies’ transformative efforts in their tracks. Many experts are hypothesizing just what consequences will result, from ports unable to process inbound or outbound shipments, to decreased operational inefficiencies, to economic stagnation.
“Scenario planning in today’s 24-hour information culture and the dynamic global nature of business means that CEOs are being pressured by investors, the business media as well as the increasingly influential special public bodies, to explain their strategic direction and the benefits this will bring to customers as well as shareholders. This was challenging before Brexit but is now more so and a lot of CEOs are struggling with this,” explains Gaby Weidlich, a UK-based interim CEO.