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Showing Tag: "crisis management" (Show all posts)
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 10: Understand Your Limitations
When all is said and done, as each part of your Crisis Management Plan comes into effect, there are a number of skills required to achieve the results needed. If you do not have the skills required within your own organisation, do not hesitate to call in the right people. This is about the very survival of your business...
We cannot look at this topic without considering one final possibility.... Is your business viable?
We have worked with some business owner... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 9: Cash Is King
Don't take your eye off the Bottom Line. OK... So your business is in Crisis, but you are doing all that is possible to rectify the situation. However, it is crucial that you are aware of the current Cash Flow availability. Working with your bookkeeper and accountant, you need to keep tight control of your Debtors Ledger and Liabilities.
Regular Debtor Control meetings, once per week is a good idea when cash is tight, can help you manage your customers to make sure that your... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 8: The 3 Pillars
Those of you who have read my earlier post on The 3 Pillars, will understand the need for this. Managing any business has three main areas that require dedicated skills. Business Development, Productivity and Accounting.... Your business must be capable of continued trade if your Crisis Management Plan is going to be worthwhile.
Keep in touch with all of these areas, including those that you are responsible for yourself. You cannot allow any of the usual functions of your b... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 7: Continuous Assessment
Whether you are dealing with a crisis over a short or indeed a long period, you must be sure that your Crisis Management Plan is achieving all of the desired objectives. To help you gauge this, it is necessary to set up a structured method of measuring the results of each action taken. When in Crisis Management mode, this should be done frequently. Your management team, along with your accountant and your business adviser, need to meet regularly to keep control of t... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 6: Force Decision Making
When making tough decisions, especially those that will effect you, your business and your staff, can be delayed by the weight of responsibility attached to that decision. When in Crisis Management mode, however, we need to act quickly. To enable this, we employ the 70/40 Rule.... How does this work? Colin Powell is known to have used this as a rule of thumb for making tough decisions. Speed of action is crucial when dealing with Crisis, so think of it like this. Wh... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 5: Communicate Effectively
Crisis Management can be seen as a short term situation in any business. In order that all of the negative issues are removed from your day to day activity, you must be sure that everybody involved in your business understands what is expected of them. To achieve this, you must be clear on what words you use when communicating with your staff.
To make this easier, set up a structured system of reporting, to allow feedback through the proper channels. This is cruci... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 4: Looking at the "Big Picture"
Getting to grips with all of the turmoil during a period of crisis is very intense. While your focus is on the numerous changes that are taking place, you, the business owner, must be able to remain calm throughout. You must be able to trust your key people to take control of their areas of responsibility, enabling you to deal with yours. At this time, remind yourself of the reasons why you became an entrepreneur in the first instance. You have put a Crisis M... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 3: Develop Your Crisis Management Plan
Having completed your review of all aspects of your business, you will have identified all of those areas that require attention. Some of these will be more important than others. The key here is to make sure that you get your priorities right. Working with your team, decide on what actions are required to resolve these problematic issues. Set and assign responsibilities with your team, ensuring that each member is very clear on what it is that they m... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Tip 2: Analyse Your Business Processes
OK... You have put together your Crisis Management Team. Having realized that your business is in crisis, you must now identify what the main problems are and how they are impacting your business. Assign areas of responsibility to each team member and demand quick reporting on all issues as they are identified. Once this review is complete, you and your team must get together to decide on which issues need to prioritized for immediate action. As the owne... Continue reading ...
Posted by Phil Byrne on Tuesday, July 19, 2011,
In :
Management
Over the years, we have all done our best to ensure that our businesses are performing well. We have steered ourselves and our businesses through some difficult times, especially in recent years since the demise of the Celtic Tiger. Working with the owners of Small & Medium Businesses, we have clocked up numerous hours with staff to improve how things are done, with bookkeepers to improve how things are reported increasing cash collection, and with the owners themselves to manage it all in a... Continue reading ...
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