Businesses need to have remedial measures in place even before a crisis or disaster happens. A perfect example is a fire extinguisher- we purchase one but blatantly wish not to have use for it. Until one day, a fire breaks out, and we become thankful for having a device that extinguishes it. How many times has your organization gone into fire-fighting mode when a crisis arises and everyone scrambles for corrective measures? Only then do we come up with pre-emptive solutions to minimize the negative effect(s) of such a crisis, at the very instance such may strike again. This Coronavirus crisis has set the business and economic world stunned and unprepared. Its economic effect may last longer than we had hoped for. Here are some questions to ask if your organization is ready to face this crisis.
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ORIGINAL ARTICLE: imd.org