(for those businesses able to continue trading).
Every business should have a long term strategic business plan, together with short term tactical plans to help achieve its strategy. Under current extreme stress periods these tactical plans will need to be re-written so as to adapt and to keep your business on-track. Some areas of particular focus should include:
- Minimising the potential health risk to all employees, customers and service providers (these are obvious should I include)
- Operate within Government guidelines (this is obvious should I include)
- Implementing business continuity plans, or if not in place establishing a set of realistic tactical objectives
- Cash is king in such periods so managing cashflow, reducing outgoings, utilising credit/loan facilities, taking advantage of payment holidays as well as Government support – all are essential
- Clear, open, regular and transparent communication with all stakeholders provides re-assurance and on-going viability
- Work smart to work around the challenges – this includes remote working and adapting the manufacture, logistics, distribution and delivery of your product or service, wherever possible
- Ensuring all assets are secure, and full compliance of all business requirements are retained as far as possible
And in moments of down-time be productive, undertake more training, review markets and competitors and start planning for when we are over this pandemic.
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