Guidelines to overcome a crisis in the company

It’s strange a company in any sector that does not go through a crisis at any time. Depending on the cause: economic, internal or due to political changes, this will be the steps to be taken. What will be needed, however, is to have an anti-crisis management plan. We’ll tell you in detail!

Acting quickly, accurately and even anticipating a crisis in the company will be the starting point. So that the company gets afloat and so that it is as little harmed as possible. Did you know that first moments are the ones that will determine the extent of the crisis in the company? The response of managers and employees will increase the chances of success.

Is it a crisis in the company or is it just a problem?

There are problems in the company when an order does not arrive on time, and it seems that the whole workforce panics. But the question here is, is this an easy problem to solve or are we facing a crisis?

We will distinguish that this is a crisis that can affect the good running of the company, as it’s a risky situation. This can harm the company (loss of reputation and credibility, sales drop) in the short, medium and long term. And, where a problem has an easy identification, the crisis is always accompanied by the surprise factor. As well as a feeling of loss of control that leads the managers to wonder what to do about it?

Crisis in the company: guidelines for the creation of a management plan

Why a crisis management plan? Because the management team will have the answer to the question of what to do in crisis of the company. And, secondly, because anticipating is crucial to minimize economic losses and market positioning. What should the crisis management plan include?

1 Strategic planning

We may not know how long the crisis will last or whether it will spread to other aspects. For example, a political crisis that ends up also being economic. But what we can do is plan. A contingency plan of what can be done in order to overcome more easily.

2 Information and more information

Information is power. Along with employees, one of the greatest assets you can have. Knowing what is happening in the market, in our sector, in competition, will reduce the surprise of the crisis.

3 The whole company walks in the same direction

It makes little sense for managers to manage the company’s crisis alone. If you have a team of professionals, why not echo their ideas and proposals? Internal communication now takes on a double role.

4 Internal and external communication

Communication also understood as a method to keep our customers aware of what is happening. A loss of reputation? It will be in our hands to talk to customers and show us transparent and safe. Sales drop? Perhaps the users can best tell us why this is so. Clear, concise and feedback communications will be another aspect to include in the company’s crisis management plan.

5 Cost reduction

Is it possible to reduce costs without harming the quality of products and services or the commitment to our customers? Crisis, many times, means less revenue for the company. That is why the strategy must also be geared towards acting in this direction. Reviewing all processes can give us clues of what can be changed to reduce costs without affecting the quality offered.

Having at your side the best partner for your imports of furniture and construction hardware from China is always a guarantee of success. This is even more important in a crisis in your company. Contact us! And we will tell you how IBMH can help you improve the profitability of your imports.