Recovering From Business Disaster

You open the morning newspaper to learn that a major investor has filed bankruptcy. You answer the phone, only to be notified that you've lost your largest customer. Or maybe you turn on your car radio and are stunned by reports of economic bad news that will drastically cut your company's sales. These nightmare scenarios may seem remote possibilities for your business. No one ever expects a disaster to strike, but such devastating events hit almost every business at one time or another. Your leadership in times of crisis will spell the difference between victory and defeat for your company. At a point of crisis, every leader must evaluate three important questions about their business:

•    What are our company's mission statement and key objective?
•    How long can we survive in the current situation?
•    What is our best plan for saving the company?