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How can a business remain sustainable? (Have a crisis management plan…
How can a business remain sustainable?
Understand the political context through stakeholder analysis
organizational
societal
learn how to deal with operational risks
find an economical balance between actions and savings
reduce
take
have the operational resilience to withstand the risk
avoid risk
share
transfer
impact
reputational
financial
physical
likelihood
strive for a long-term relationship with customers to guarantee future financial streams
be consistent
continually transform to meet the future needs and expectations of customers
be clear on what the brand stands for
have leaders and managers balance value proposition for internal and external shareholders
long-term strategy
short-term profit
create shared value
improvement of product and service offering
to cater to external stakeholders needs
optimization of internal processes within the operations
to cater to business functions, and shareholders
Have a crisis management plan ready for both internally caused issues or scandals caused by external events
acknowledge problem
formulate response
assess incident
implement response
continuously innovate while being aware of the impacts over time
to the organization
to society
find a balance between continuous change and stability
Measure the value created by the organization to ascertain that the organization remains competitive and solvent
deprival costs
fair value
historic costs
have an effective quality management system
quality assurance/ proactive approach
quality control/ reactive approach
appreciate the importance of cost associated with quality