Question: Brief comment on the following discussion post:The article by Hermann Oliver from 2002 provides valuable insights into crisis management, which is a critical aspect of
Brief comment on the following discussion post:The article by Hermann Oliver from 2002 provides valuable insights into crisis management, which is a critical aspect of risk management for businesses. It emphasizes the importance of being prepared for various crises, both likely and unlikely, and provides a comprehensive overview of the key areas that need to be addressed in a crisis management plan. Having a well-prepared plan for crisis management is essential because it enables organizations to react more effectively when a crisis occurs. Proactive planning not only helps in minimizing the impact of a crisis but also ensures a more organized and coordinated response, which can be crucial in maintaining the reputation and operations of a business during challenging times. One key takeaway is the importance of business continuity planning. Identifying mission-critical functions and ensuring their continuity even in extreme circumstances is crucial. It also highlights the need for relocation plans and risk financing to cover the extra expenses associated with recovering from a crisis. I believe that, if my peers, where to read this article they would find this very familiar and resonate with the importance of mapping out possible things to do in crisis. The article also underscores
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