Among the helpful tips offered to boards by directors and business leaders attending KPMG’s April 2025 Board Leadership Conference to manage the current US policy agenda, including (and perhaps most significantly) the tariff implications on the business, were the following:
- Conduct scenario planning. Boards should promote scenario planning processes that are properly resourced and staffed, context-specific, iterative, and informed by independent third parties. GenAI may be useful but can’t supplant management’s judgment.
- Engage with stakeholders. Boards should encourage management’s proactive engagement with government officials representing both political parties to educate officials on the impacts of policies and policy initiatives on the company, the industry, and the economy. Management should similarly seek to educate investors and other key stakeholders on the implications of policies on the company’s strategy and performance.
See also the firm’s “Midyear observations on the 2025 board agenda” addressing these and other topical issues.
This piece from Russell Reynolds provides sound guidance to boards and, indirectly, senior management, on how to navigate the current trade-related turbulence and uncertainty in a manner that is consistent with and guided by the company’s organizational purpose, mission, vision, and values. With that backdrop, the article suggests action items and considerations for navigating the current environment, including a reassessment of the composition of the leadership team, which tends to reveal both strengths and vulnerabilities particularly in times of crisis or disruption.