How to rebound when your sector takes a hit: Part three

When you are in a time of crisis, or coming out of one, it is a good time to take stock and look at what you can do to insulate yourself from future market disruptions. There are four steps to this. In part one we looked at how to prepare ahead for hard times. In part two, we looked at understanding your environment. In this instalment, we will examine how to stay flexible and be ready to make changes.

The key to this is you need to build flexibility into every aspect of your organization.

Operational: Do you receive real-time insights from the market? Are you able to move quickly from insight to action? You need to make sure the processes within your company are agile enough to be adjusted when disruption occurs in times of crisis.

Organizational: Are people held accountable and rewarded consistently? Are there clear performance goals for…