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Immediately activate a committee to assess and manage any risks to the company.
- Immediately activate a committee to assess and manage any risks to the company.
- Establish an efficient decision-making process between the board and the executive team to quickly address any issues, risks, or failures. A command center that provides constant feedback to the board.
- Create an emergency plan for handling logistics (i.e alternative routes if port/airport got neutralized). Procurement local/international.
- Assess and understand the repercussions of a war on your company, financially, operationally, and in terms of your staff.
- Assess the risks associated with a potential closure of the banking sector and any disruption or unavailability of the SWIFT system.
- Consider creating safe areas or shelters for employees and facilities located near war zones. Increase HR responsibility and engagement.
- Evaluate the need to move stock and supplies out of storage facilities located near war zones, and closer to market/project.
- Test and activate your business continuity plan, which outlines how you will continue operating during crisis.
- Test and activate the disaster recovery plan mainly for connectivity.
(Internet, phones) - Allocate enough cashflow to survive 6-8 weeks to accommodate for business continuity (energy, raw material, salaries, emergency fund for hospitalization, etc…