Are you prepared?
Reacting and adapting to a crisis must be efficient, intelligent and inspire actions that aim to recover as quick as possible. Keeping your team informed and educated on various obstacles they could face gives them a sense of preparedness and confidence they carry moving forward.
What is crisis management?
Crisis management is an organization’s ability to quickly and appropriately handle an emergency situation, with the end goal being to recover from as much of the damage as possible. In the 21st-century, a crisis can be many things ranging from a natural disaster to a tweet sent out in poor taste.
When operating in a business environment, it’s a common occurrence to have to battle with risks or crises. Part Time CFO will work with you and your team to ensure a complete understanding of the different types of crisis and struggles unique to your organization, and determine the best interventions and turn around strategies.
A corporate crisis could destroy the unprepared. Developing protocols and management techniques with Part Time CFO will help keep your business sustainably operating. A corporate crisis could include:
- Losing key employees or managers
- Equipment breakdowns
- Lack of investors
- Technological breakdowns
The ground of the economy is constantly shifting. It’s important to establish a contingency plan that can adapt to its changes such as:
- Volatile markets
- Service failures that disrupt operations
A communication crisis could stem from media or public relations, resulting in a blemished reputation that could follow your business for years. A crisis in communication could ultimately impact your staff as well. Examples of this type of crisis include:
- Employee strikes or protests
- Employee scandals
- Discrimination allegations
- Public relations crises