by Dr. Ceyhun Emre Doğru
Turkey is going through a transformation. The economic and political changes require businesses to closely monitor and quickly respond to the policy and regulatory changes. The companies that ignore how the public institutions view their business and intend to regulate their sector are at a risk.
Why has public affairs become so important in Turkey? There are a few reasons:
- The government has a political and economic interest in regulating the sectors that directly affect political behavior.
- The COVID-19 crisis created an opportunity for the public institutions to closely monitor how the markets function.
- The issues that the government is expected to regulate (data privacy, consumer health, labor relations) are getting even more complex and significant for business results.
However, most of the companies that either already operates or intend to invest in Turkey do not possess the necessary organizational capability to manage their external affairs. (This is where a public affairs agency can be of help). It requires an in-depth understanding of how the Turkish political system works and a commitment to stakeholder management at all levels. The public policy perspective should be embedded in the corporate culture and organization, so that the company’s direction will be clear for all internal and external stakeholders.
Moreover, a company’s public affairs and government relations work should support its business objectives. It is only as a result of deep integration between the two that a social responsibility project or a reputation campaign will bring the expected benefits. Therefore, it’s crucial to think about these questions beforehand and develop the necessary roadmap to be prepared for any scenario.
The Turkish government will increase its focus on the businesses environment in the coming years.This comes with both risks and benefits. Therefore, an important part of CEOs agenda should be dedicated to understanding the external environment of their companies and providing the necessary resources to properly handling it.
Read our “How Can Public Affairs Consultancy Help Your Business” article to gain more insight on how a public affairs agency in Turkey can help your business achieve its public policy objectives.