How to handle a business crisis*
A highly competitive, volatile global marketplace is a double-edged sword, providing great opportunities for growth while presenting abundant sources of risk. Unpredictable and unwelcome events, either internal or external, can negatively impact even the most stable businesses. A crisis can trigger serious problems, including declining earnings, liquidity and cash-flow shortfalls. Lack of confidence and pressure from stakeholders, suppliers and customers, as well as regulatory scrutiny, demoralization of staff and reputation damage are also major concerns. A delayed or limited response to these issues can be extremely damaging to the business.
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