Time to assess the possible impact of the Corona virus on your various Business Units.
Today one of our key account clients called in to cancel an already scheduled Finance training for their Managers. They cited that they were foreseeing the Corona Virus imposing serious challenges on their exports hence they needed to strategize in light of the current global economic melt-down. I commend them for doing so. In as much as disaster hasn’t really struck home, preparation is always wise in any given option. It would be naïve for business leaders to wait until the disaster hits home before they can look at the potential risks that this epidemic is posing on their businesses. In Africa the impact has the potential to be great due to our interdependence on China. Hence business leaders need to realise how this epidemic will affect their organizations by carefully carrying out a risk and impact assessment on each business unit and they should strive to put into place the measures to manage the risks before it is too late. Today we look at HR,L&D and Procurement/Supply chain.