Sense and sensibility
Making sense at a time of crisis
The Deloitte-Retailers Association of India report, Sense and sensibility, takes an in-depth view on identifying risk attached to retailing and making sensible adoptions to tackle them.
Deloitte India's report for retailers is a must as it is easier to recognize possible risks at the beginning and plan well in advance to mitigate them.
By definition, crisis has far-reaching implications. Whether because of purposeful acts, simple mismanagement, or other reasons, crisis often begins small but often escalates into full-blown events.
It’s not that organizations are not aware of such implications but often, in a cost-sensitive market, prioritization of potential risks, associated with unforeseen events, may be considered low, until the event actually takes place. As part of the executive committee of decision-makers and boards, there is a need to ask questions such as, ‘Are we ready to handle a crisis?’, ‘How do we know we are ready for one?’, ‘Do we have mechanisms in place to test and even measure our crisis management capabilities?’