If you are considering how to manage a crisis and steer your business through a significant event as the crisis unfolds, without any prior planning or preparation, then you are probably already facing a difficult time or potentially failure. The Confederation of British
Industry (CBI) together with the Business Continuity Institute (BCI) have calculated that for every business facing a crisis or incident without appropriate preparation and planning then 1 in 5 go out of business within a year.
- Leadership
- Preparation
- Information
- Analysis
- Decision-making
- Review
If these key areas have not been considered, developed, resourced and practiced then how can you expect to react with appropriate alacrity when the crisis/ incident/business interruption hits – in whatever form that may be.
Of course, ultimately your actions will be a balance of risk, probability and cost. Resilience comes at a cost and if you increase your cost base disproportionately then you start to become uncompetitive in your sector under normal circumstances.
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