Times of crisis can become the times of rejuvenation, course correction and development for companies who think ahead. You probably know this already. But you probably also know that even though people know, they still panic and drown when times of crisis arrive.
BrandMap Editor in Chief
Companies with the right business plans and smart strategies know how risks turn into crisis in times of crisis. They at least know which risks were left unseen and the how the crisis resulted from that risks.
Risk management, brand identity and course correction, product innovation, development in human resources, betterment of working conditions, reanalyzing customer needs, creating new financial sources, correct judgement of domestic and foreign markets, finding sustainable projects and implementing new and better ways of management to corporate culture are all really important and all actually serve one purpose. You can see times of crisis as times when people lose their jobs, companies downsize or go under or shrinking markets, but you can also see it as an opportunity for companies to ride the wave and come out with even stronger foundations.
So, What Can Be Done?
Instead of keeping busy with day to day dealings of an organization all together, a member of the board can temporarily hand over his day to day responsibilities to his peers and start a crisis assessment and post-crisis readiness team. Same principle applies to small and medium organizations as well. The goal of this newly built team would be analyzing the possible risks, completing missing work and finding out innovative solutions. It is really hard for the company’s board to deal with day to day, all the while trying to figure a way out of a crisis. Having an independent team that is only concerned with the betterment of brand and company, should be seen as an investment towards the future of the company.
This correction and enhancement team should act as an independent research team inside the company and analyze the entire company, so that the data can be used for future projects. This team should be made of people who think outside the box in order to be successful. What they are actually doing is a wide scale conference call inside the organization. If they can get help from a brand or a management consultant and from a researcher, the results will be healthier and will be reached faster.
All this correction and enhancement studies will yield a lot of documents. These documents should be compared to the current state of crisis, which will lead to a period of analysis. Prospective projections of problems due to crisis, solutions, good opportunities and chances should be made and should be compared using SWOT, PEST and other means of comparison, which might lead to a way out of the crisis. Production and development with design oriented thought and a transition to experimental branding could be one of the best implementations this team can make. It opens up a way for workers to share their innovative thoughts by making the entire organization join in with their ideas.
As a result, if brands and organizations can make the most of a crisis, they can get out of it with minimal losses, even stronger and it would make a healthier post-crisis management possible.