How should boards of directors react to unanticipated risks?

Exclusive interview with Shellye L. Archambeau, board member of Verizon and Nordstrom  When the utterly unexpected happens, a board of directors should immediately assess the potential impacts to the company on all fronts. Operations, supply chain, employees, and others. More importantly, board members must press management to assure that it has an adequate understanding of the potential effect of the crisis, said Shellye L. Archambeau, member of the board of directors at Fortune-500 Verizon Communications and Nordstrom.  In rough weather, directors might be tempted to forget strategy and become tactical thinkers or involved in day-to-day duties. Archambeau recommends not jumping in. Naturally, directors should be aware of what is happening in the “here and now” and of the tactics deployed. […]

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Global Tourism Industry on Track for Full Recovery by 2024

The global tourism industry is set to reach, and possibly surpass, pre-pandemic levels by the end of 2024, according to the World Economic Forum (WEF). Five years post-COVID-19, the sector is experiencing a robust resurgence driven by a surge in international travel, improved air connectivity, and strong rebounds in key regions. However, global dynamics must be managed carefully to ensure stable and continuous growth. In 2023, international tourism reached 88% of its 2019 levels, a significant recovery favored by the reopening of Asian markets, as highlighted by the United Nations World Tourism Organization (UNWTO). The Middle East led the way, surpassing pre-pandemic levels by around 20%, with Europe, the Americas, and Africa following close behind at approximately 90% of their […]