So what are they doing? To start, they’re deploying more resources to get to know the players in the Trump Administration and keeping a close eye on what’s happening in the courts at the federal and state levels. To paraphrase Bob Dylan, you can’t criticize what you don’t understand. They’re trying to strengthen bonds with customers, vendors, regulators, employees, and board members, especially in key markets outside the U.S.
And many are looking to organizations like the U.S. Chamber of Commerce, the Business Roundtable, the National Association of Retailers, the American Hospital Association and others to not just represent their interests in Washington but also provide more intelligence on what’s around the corner. (I’ve seen greater interest in our CEO gatherings, too, especially off-the-record dinners like the one we held in New York recently with Canada’s Chrystia Freeland, former Transportation Secretary Elaine Chao and former Commerce Secretary Wilbur Ross.) There’s never been a more critical time to talk to peers, especially across industries.
I spoke recently to Sean West, a veteran global affairs expert and cofounder of the software company Hence Technologies, about what companies can do in this environment. West, the author of Unruly: Fighting Back when Politics, AI and Law Upend the Rules of Business, sees a few things happening. Companies, he said, “need to be thinking about, how do you achieve your political aims through the legal system?” That involves more coordination between your legal team and business units. Another big shift is the increased importance of industry groups. “You need to force your industry groups to take a much more combative position than they want to do if you’re afraid to do it yourself. Industry groups are no longer just about, kind of quietly slowing down policy-making. They can be a vehicle for safety in numbers.”
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Contact CEO Daily via Diane Brady at diane.brady@fortune.com
