The global landscape is increasingly defined as a polycrisis by experts: the simultaneous occurrence of mutually reinforcing crises. How is this development affecting Czech companies, and how can they prepare for it? The Association for Foreign Investment (AFI) is dedicating its annual autumn conference to analysing this topic. We discussed it with Gabriela Hrbáčková, Chairwoman of the AFI Steering Committee.
In what ways are companies in the Czech Republic equipping themselves for simultaneous disruptions, and what is driving this readiness?
It is becoming increasingly clear that the decades of stability Europe once enjoyed cannot be taken for granted. Events like the pandemic, the energy crisis, armed conflicts, trade wars, and supply chain disruptions have shown how swiftly external shocks can destabilise manufacturing, services, and the labour market. It is now evident that these challenges are not temporary episodes. They are part of a new long-term reality we have to navigate.
Simultaneously, we are witnessing a shift in the determinants of competitiveness; labour costs and manufacturing efficiency are no longer the primary benchmarks. The ability to mitigate the impact of external shocks and ensure operational continuity in an unstable climate is becoming increasingly critical. Ultimately, the market leaders of the future will be those who prioritise strategic preparedness and flexibility over cost-cutting.
Investors today are asking far more questions about the stability of supply chains, energy dependence, or a company’s ability to manage crisis situations. Resilience is becoming part of a company’s reputation and its long-term value. Preparing for polycrises is not an extra cost. It is an investment in business continuity, employee trust, and company stability.
What role do people and training play in this preparedness?
The Czech labour market is very strong in terms of professional and technical skills. However, the era of polycrises brings entirely new demands, not just technological but primarily human and organisational. There is an emerging need for personnel capable of managing uncertainty, responding quickly to changes, collaborating across teams, and handling crisis communication. We have shifted from a long-standing focus on optimising performance in a stable world to a new reality where readiness and adaptability are the top priorities.
The Nordic countries can serve as an inspiration. In Finland or Denmark, crisis preparedness is much more common and part of the normal functioning of society. When a company finds itself in a crisis situation, it is crucial that people know what to do, that clear processes are in place, and that management can make decisions under pressure. We need to build real resilience in people.
My central message to the corporate sector is that crisis preparedness must be viewed as a cornerstone of long-term competitiveness, not merely an administrative obligation. It is essential that organisations institutionalise crisis management as thoroughly as they do their financial or human resource functions. To demonstrate this commitment, AFI, in conjunction with the “Let’s Get Ready!” platform, is organising an experiential simulation of a polycrisis this November. Our goal is to bolster their market appeal and competitive edge. After all, resilience is not forged during a crisis; it is built in the time before it.
Thank you for the interview.
