Is Crisis Management now a necessity rather than a choice?
Fuel and goods shortages, climate crisis, changing consumer behaviours, removal of state interventions - in the aftermath of the pandemic no one expects things to be ‘easy’ but it feels like the challenges are ever mounting. But can we turn negatives into positives for our businesses or should we all be switching to crisis management mode?
It is a pivotal time, with organisations, big and small, dealing with the ‘fallout’ and consequences of what is now the well worked phrase “unprecedented times” – and I am tagging Brexit in here too. The challenges being faced are bringing financial and operational processes once again under the spotlight for further scrutiny. Having already taken great leaps (at a fast pace) to adapt businesses in lockdown now is about re-evaluating the long-term effectiveness of those changes and either restructuring or fine tuning and embedding how you mean to go on. Throughout the ability to navigate and capitalise on marginal gains through cash and asset management or banking relationships to keep cash flowing will determine those businesses that will survive long term.
In my recent article about the 13 Week Cash Flow I stress the importance of having ‘eyes on’ to be able to make these kinds quick but informed changes.
Bring in the specialists
With such critical decisions, negotiations and mitigation plans to make is why, right now, a professional in crisis management could be just what you need to guide you through the shifting sands. To plough through the minutiae to present creative, qualified and appropriate financial solutions at leadership level and leading on the negotiations to see these solutions come to pass.
But it doesn’t have to be all doom and gloom. The crisis approach is about shining a light on and focusing efforts to deal with immediate issues that may not have precedent or a prepared mitigation in place for. However experienced Interims/Turnarounds will look at solutions in the round - the longer-term growth opportunities as well as how to get business over the ‘hump’ (which admittedly may feel like a mountain sometimes).
You've still got the BAU to keep going!
Let’s face it when you’re working your arse off to manage a difficult situation, you want a experienced sounding board and a safe pair of hands to share both the load and offer the good news story to tell your stakeholders. By bringing someone in who can work in context of the bigger picture and has experience of financial and operational mechanisms that have and will work in these situations you are getting ahead of the game.
Find out more about bring in Interim Management here