Size on policy, especially on the foreign policy of a state” (Brill Influence of factors such as geography, economy and population One possible definition is “the investigation of the
Of the term geopolitics is one of the basic problems of geopolitical More difficult (for an introduction see Werber ). Measures) is widespread and should also be used as a basis in theįollowing explanations (Wolke ).
Theory and practice the term risk in the sense of a future potential asset loss / damage without comparison of possible profits / returns (so-called shortfall risk While there are numerous definitions of risk in the business sense (Vanini ), in The definition of geopolitical risks is not clear in science and Necessary for consideration in risk management. Risk identification, risk measurement, risk analysis and finally risk control are Often not possible to derive company-specific business decisions from these general economic Statistisches Bundesamt 2019, decrease in the number ofįoreign correspondent banks, cf. Risks is also currently reflected in various economic indicators (e.g. Is becoming increasingly important in risk management. The increased complexity due to dwindling (natural) resources due to a simultaneously The increasing effects of globalization (cf.
However, the consideration of geopolitical risks is also importantįor small and medium-sized nationally active companies throughĪ. Of the most important risks of the future (along with cyber risks, recruitment risks, climateĬhange risks, see. Most multinational companies consider geopolitical risks to be one The current significance of geopolitical risks is highlighted by numerous publications ofĬompany surveys. Significance, definition and distinction of geopolitical risks The aim is to integrateįuture geopolitical risks into the Value at Risk concept as objectively and comprehensibly as Risk management systems but also to map them in currency units. Therefore be developed to not only qualitatively integrate geopolitical risks into enterprisewide In Supply Chain Risk Management (SCRM, see Bendul ). Strongly increased in recent years Feldstein and currently forms a central research area Ukraine (Crimea - annexation, EU - sanctions against Russia), Egypt (Arabian Spring), etc.) has in the USA (Trump), Turkey (Erdogan), Great Britain (Brexit), Qualitatively Hood, Howell or in the form of country risk. Practice, geopolitical risks in a company have so far mainly been depicted descriptively, Risks, operational risks and sales/procurement risks in quantitative terms.
Enterprise-wide risk management systems primarily reflect market price risks, default
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