We’re all vigilantly watching the coronavirus headlines. Undoubtedly, you’re looking into what you can do to minimize its impact on your life and those of your loved ones. What about business? How much attention has coronavirus-related business continuity planning received in your organization?
A story in The Wall Street Journal on Saturday refers to the coronavirus as a "$3.6 Trillion Wake-up Call," and that only accounts for the value that has disappeared in the US stock market. The article, and other sources, are replete with statistics highlighting early business impacts and pending risks
- Consumer goods companies reporting that volumes are off by more than 80% in China
- A 25% drop in container volume through the Port of Los Angeles
- $50 million in revenue at risk for a major cruise line
- Governments globally are taking strong measures to shut down large public gatherings, including schools and events.
- Expectations of the economic implications pushing many large countries into technical recession during the first half of 2020.
The numbers are, obviously, daunting.
From this perspective, the big question: what could the impact be for your organization?
The next question: how prepared is your organization to respond as coronavirus moves throughout the world?
Planning is important for businesses of all sizes, even if—perhaps particularly if—you're late to the game. The US Center for Disease Control indicates that "up to 40% of workplaces never reopen following a major disaster." Yet, a conversation with a Fortune 100 company that has been proactively planning and addressing its supply chain during the early days of the Covid-19 outbreak suggests that its supply chain hit was 50% less, and its recovery 50% faster, than that of its peers.
If you don't think your organization is ready for the effects of the coronavirus, how can you get ready, and what can you do right away?
Brainzooming has partnered with our long-term collaborator, Keith Prather of Armada Corporate Intelligence, to develop resources that will help you jumpstart your planning.
If you're behind in planning and implementing how your organization will address the spread of the coronavirus for your employees, customers, and partners, this free five-checklist eBook guide will jumpstart your planning fundamentals. The checklists address:
- Planning and implementation principles
- Picking team leaders
- Assessing your demand-based strategic starting point
- Assembling focused response teams
- Enabling high performing partners
If I were still in a Fortune 500 and we hadn't prepped to address the coronavirus by last Friday, I would have created these checklists to go in Monday with a strategy to proceed.
Business Continuity Planning Jumpstart Online Workshops
If you'd like assistance in quickly moving through the checklists to identify critical success factors and potential implementation tactics for your organization, Brainzooming and Armada have paired up to provide a solution. In a Business Continuity Planning Jumpstart online workshop, we’ll:
- Share a coronavirus update tailored to your industry, along with an opportunity for Q&A
- Lead your team through Brainzooming exercises to identify critical success factors for your preparation and implementation performance
- Help you focus on priority areas to address within your organization
- Collaborate with you to identify potential implementation tactics to shape your plan
This dedicated collaboration workshop is a solid, quick-return investment that gets your organization ready ASAP. So if you’re scrambling to plan, you can learn more about the workshop and schedule a call to finalize your workshop time and structure. Contact us to schedule a Business Continuity Jumpstart online workshop ASAP. - Mike Brown
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