On February 27, AmCham hosted a webinar hosting Control Risks on ‘Coronavirus and the short to long-term implications for business’. This is our second online and complimentary event under our COVID-19 series. Below are some of our key takeaways if you missed it.
Punch-in-the-face challenge for businesses with the biggest concerns in:
- Disruption of the entire supply chain
- Difficulty to get shipment through ground transportation, and increased costs
- Getting production workers back to work (only 30-50% resume work while others are nervous to get back)
Getting back on your feet: crisis management & recovery teams
- Companies should manage the crisis by setting up a recovery team alongside a crisis management team to devise a recovery plan for short to long term.
- Make short-term decisions based on long-term views and your company’s objectives
No one is pain-free: how to deal with the situation?
- Proactively and effectively communicate with employees, suppliers and customers.
- Have a business continuity plan
- Have a crisis management plan
There are much more unknowns about COVID-19 than the knowns:
- Be mindful of sources of information
Opportunities are possible: “Think about it, work around it, and plan for it”
- Crises always happen suddenly. Companies should look beyond solving a crisis and turning it into an opportunity.
Information about our speakers
|Michael Hickman, Principal, Integrity Risk and Crisis Management consulting practices in for the Greater China and North Asia at Control Risks Pacific Limited|
|Kent Kedl, Senior Partner of Greater China and North Asia at Control Risks Pacific Limited|
|Ling Jin, Director of Control Risks Pacific Limited (Moderator)|
View Control Risks' latest Q&A report here.