We recently stumbled across this interesting article in The I Newspaper. The Chief Executive of the World Bank said the growing frequency of financial, economic and terror-related emergencies is becoming the "new normal" and will require a more agile response from politicians and businesses.
Kristalina Georgieva believes we are now at the point when shocks are more frequent. During a panel discussion at the St Petersburg International Economic Forum in Russia she said; "It used to be there would be a massive crisis, it comes, hits us, for a couple of years we struggle with it ... and then it goes away, and then a new crisis would come later. Countries are now facing multiple challenges simultaneously".
"If you just look at the last years, we had financial crisis, economic crisis, eurozone crisis, terrorism, geopolitical crises, and neither institutions nor businesses are well tuned to deal with more than one shock at a time.
“We have to really figure out - if this is the new normal, and I happen to think this is the new normal - how we can have more resilient, more agile and more adaptable government policies (and) private sector behaviour so that (work) security can be put on a sound foundation."
So, going forward, how do we buckle-up and succeed in this new environment? The answer is crisis management! In a world where change is constant and rapid, business leaders need to train and rehearse to become more resilient.
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If you need advice on how to properly manage a crisis within your organization, contact us on 01983 564917 or email firstname.lastname@example.org to arrange your free consultation with one of our specialists.