AEGIS used the following scenario just as the virus was emerging to test the crisis readiness of clients
We had no idea at the time that this virus would suddenly envelop the world and through its escalation, all of us are faced with challenges we never imagined let alone planned for.
At AEGIS, we help you plan for crisis, the unimaginable. Anticipating and preparing for the unexpected, responding to and recovering from crisis is what our “All Hazards Approach” is designed to do.
As AEGIS works with clients in managing COVID-19, we have identified lessons learned and how we can apply those lessons to what’s next …recovery and rebuilding. What if there is a second wave? Our clients understand that the way forward is still fraught with all types of issues, which if not prepared for and managed effectively … could become another and potentially bigger crisis. They simply must be ready, will you?
Scenario 4: Is it The Flu or Could it be More?
KNOWING WHAT YOU KNOW NOW, WHAT WOULD YOU DO?
STW Company executives were assembled in a conference room reviewing plans to acquire a new company in China that would significantly expand their footprint in the highly desirable Asian market.
They were very pleased with the information being presented by three employees who had returned 10 days ago from preliminary negotiations with the company and they knew they had to move quickly as there was stiff competition and final bids were due within a week.
One of the presenters was clearly not feeling well and apologized at not being able to continue; handing off his part of the presentation to his colleagues. He mentioned that he had just gotten his flu shot yesterday and is probably experiencing an adverse reaction.
One of the executives casually remarked … “thank god you guys returned from Beijing and not that city where they have that virus.”
What should the company have done?
Knowing what you now know, here are just a few of the questions you should have answers to:
- How many of you have successfully changed your operating models in real time or are the process of changing them?
- How many of you have been forced in real time -to change product portfolio or service offerings and distribution channels to meet changing customer demand?
- Have your supply chains been disrupted – if they are sole source, has your procurement team identified alternate suppliers and how resilient are they?
- Has just in time inventory planning been re-examined – given shortages in raw materials and finished goods?
- Are work from home strategies working – are you dealing with anxious employees on your factory floor – in either case – have you been able to maintain productivity?
- Have you with real confidence been able to forecast demand or cash flow for this quarter – or for the next six months?