Generally there is enough time to find your way out of a crisis. Depending on its cause, identifying weaknesses is not usually a difficult task and countermeasures can be implemented quickly.
The problem in most crises is not how to combat the actual cause – what often gets forgotten is to also simultaneously focus on the future.
The challenge in this context is, on the one hand, to overcome the crisis and, on the other, to view it as an opportunity to reorganize processes and reconsider strategies and structures. Centering all your energy on the current situation often results in valuable time for optimizing processes being lost.
So, in addition to crisis management the real task is to answer the question “How can I get my company into shape for long-term success?”.
The following checklist should help you find the right solution for your company:
- Consider all your business areas.
- Identify the areas that endanger your success and eliminate them – e.g. outdated product groups.
- Go back to your core business.
- If necessary, adjust your personnel and material resources.
- Are you in the right locations? Do you need to further develop products and services? Think strategically.
- Together we are stronger. Make entering new markets or acquiring customers easier by initiating partnerships with other companies.
- Think globally – oftentimes international crises will force other companies to withdraw from foreign sales territories.
- Keep a close eye on the market so that you can identify changes as quickly as possible.
- Leverage new developments. Developing new products during a crisis is a way to demonstrate your innovation leadership and strength.