Oxford Economics and Control Risks recently launched an innovative risk management enterprise that assists companies in their strategic decision-making. Economic and political risks are more interconnected than ever before. The strategic success of an organisation relies increasingly on its ability to anticipate and react to future shocks caused by this complex relationship between economics and politics.
Bridging the worlds of geopolitics and macroeconomics, the collaboration between Control Risks and Oxford Economics addresses this interconnected risk landscape with the Economic and Political Risk Evaluator (EPRE). The political actions of countries clearly affect international trade and monetary flows, which in turn disrupt the global economy and business environment. The evolving situation in China, for example, demonstrates the inseparability of politics and economics as Beijing seeks to strike a delicate balance between market forces and political priorities.
More advanced risk management tools
As a consequence, companies are seeking more advanced risk management tools to monitor and assess emerging risks around the world. The service, which employs advanced visualisation tools and can be customised to fit an organisation’s own risk profile, provides a framework for forecasting economic and geopolitical risks in 164 countries through regularly updated ratings, in-depth profiles, and event-driven updates.
Richard Fenning, CEO, Controls Risks, said: “By combining the political acumen of Control Risks’ worldwide network of specialists with the analytical expertise of Oxford Economics’ unparalleled team of economists, we are able to provide the timely political and economic insights that companies need to succeed in today’s complex marketplace.”
The partnership combines Control Risks’ 40 years’ experience in political, security and integrity risk management with Oxford Economics’ world-class global forecasting and modelling capabilities on 200 countries, 100 industries and 3,000 cities. By coming together the two firms are able to provide the most complete risk analysis in the market, examining a full range of interconnected economic and geopolitical risks.
“Understanding the interlinkages between economic and political risks is of critical importance to our clients, and we are proud to have collaborated with Control Risks to produce a service that will provide the basis for more informed decisions,” commented Adrian Cooper, CEO, Oxford Economics.
