4 ways to crisis-proof your business
Posted on May 05, 2021 | By Lavonne Boutcher | 0 Comments
If the pandemic caught you under-prepared, you’re not alone. The disruption from COVID-19 is testing the resilience of every business, exposing cracks in their risk management plans and leaving owners and managers wondering, “What’s next?”
The good news is whatever you do now to get through this troublesome time may put you in better shape to handle the next crisis, whether that’s from a virus, a hacker or Mother Nature.
Here are some practical ways to prepare your business for the unexpected.
1. Plug the holes
The pandemic put risk management in the spotlight. Nancy Chase, a partner in KPMG’s Risk Consulting practice, has seen a lot of interest from companies wanting to be better prepared for unpleasant surprises. “The pandemic really illustrated how ready or how not ready they were,” said Chase. “I think organizations, irrespective of sector or size, are really understanding the importance of this.”
If you’re looking to up your risk management game, here are a few ways to start.
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