What Businesses Must Learn from Russia-Ukraine Conflict

Lesson one: Never put all your eggs in one basket

First of all, many businesses are now evaluating their existence and business operations in Russia.

Lesson two: Proactively shoot your supply chain

Several major automakers have operations in Russia, with some deciding to pull back in light of the conflict, and others warning of disruption to their businesses.

Lesson three: Always find new partners!

The fallout from the invasion has led dozens of countries to ban Russian airlines from entering their airspace, triggering reciprocal prohibitions from Moscow. While Russia is a busy route for some Western carriers, the bigger disruption comes from the restriction of Russian airspace, which is used to connect most flights between Europe and Asia.

Lesson four: Safety comes first

Global pharmaceutical companies are looking to ensure that their medicines and vaccines can continue to reach Ukrainian patients. Ukraine relies heavily on medicines from overseas: Imported medicines and vaccines were worth $2.5 billion in 2020, according to United Nations trade data. The biggest share of that comes from Germany, where many large Western drugmakers have plants.

Lesson five: Give back

Try to find ways to give back to the areas that are impacted by war.



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