Plan, Prepare, Prevent.
All businesses are likely to be affected by coronavirus, and as such should act without delay to assess the potential implications and develop a plan to mitigate risk and remain operational.
Having a clearly defined plan in place to deal with an unforeseen crisis such as coronavirus is a critical component to protecting the ongoing success and viability of your business.
In crisis situations such as this, protecting people should be the primary focus for businesses, however, cash flow is often the next most critical area.
Make sure your business is prepared. Stay informed with McKinsey's executive summary that is meant to help business leaders:
• Determine the potential impact of coronavirus on their business
• Create an action plan to manage risk and keep business interruption to a minimum