Activate and empower COVID-19 command center
Command Center | Respond: Prepare for and manage continuity
Managing a complex and fast-moving crisis like COVID-19 can be extremely challenging. The greatest damage to an organization often lies in unsuccessful management of the situation, rather than in the effect of the crisis itself. A swift, effective response will significantly alter the outcome of the crisis and minimize its impact; a random, uncoordinated response will almost certainly exacerbate it. This article discusses the steps companies can take to help ensure their response to COVID-19 is well-managed and effective.
Topics covered in this article include:
- Setting up a crisis management function and a clear framework that defines roles and responsibilities
- Achieving an effective leadership response and strong decision-making
- Applying crisis management operating principles
Addressing the financial impact of COVID-19
Surviving the next 4 weeks… and then the next 3 months
The daily changing news on COVID-19 has profitable and well managed companies needing to take drastic action to maintain headroom. There are many actions companies can take – all of which focus on improving the immediate cash position and identifying and addressing existential risk. While businesses need to continue to focus on retaining the core business fundamentals that have made them successful, in the immediate term survival is of the essence.
Insight and lessons:
- Real Time Cash Flow Forecasting
- Taking TIGHT control of cash
- Stakeholder management
- Funding solutions
- Contingency Planning