Business resilience is all about planning for the future
I look at resilience in a number of different ways, it is not just about cash flow and balance sheets.
I would look at resilience in terms of how many clients you have on your books right down to things that you can’t plan for. We had an accident in Scotland this morning and the resilience of the business is tied up in whether you have the systems in place to deal with unforeseen circumstances.
Larger businesses tend to have the infrastructure and processes in place so it is the smaller SMEs that are more at risk from unforeseen circumstances and incidents. One of the issues we face is the increase in cyber attacks, we have had experience of that three or four times in the last couple of months…
Lead Your Business Through the Coronavirus Crisis
The Covid-19 crisis has now reached a new critical phase where public health systems need to act decisively to contain the growth in new epicenters outside China.
Clearly, the main emphasis is and should be on containing and mitigating the disease itself. But the economic impacts are also significant, and many companies are feeling their way towards understanding, reacting to, and learning lessons from rapidly unfolding events. Unanticipated twists and turns will be revealed with each news cycle, and we will only have a complete picture in retrospect.
Nevertheless, given the very different degrees of preparedness across companies, the further potential for disruption, and the value of being better prepared for future crises, it’s worth trying to extract what we have learned so far. Based on our ongoing analysis and support for our clients around the world, we have distilled the following 12 lessons for responding to unfolding events, communicating, and extracting and applying learnings…