A study by Develor Consulting Inc. Over the past few weeks, seemingly from one moment to the next, a financial and economic crisis has emerged on a scale and with an impact unprecedented in the last 75 years. There isn’t a country, or possibly even a single company that can avoid the consequences. We are already feeling the short-term effects, but there is a clear consensus that far more serious problems await us in the near future. Something has begun: certain participants in the economy have already been hit hard, while other are only just beginning to feel the squeeze. The crisis is still in its infancy, and now is the time to make those important and unavoidable decisions; we cannot put off facing our responsibilities as a manager for any longer. The global economy is suffering a crisis of confidence. Its participants have lost their trust in each other, both at macroeconomic and microeconomic level. We know that this foundation, which has disappeared from one moment to the next, is easily lost but exceedingly difficult to regain. This is another factor suggesting that the economic consequences will be protracted. There is much talk about the loss of trust between companies, but far less is being said about the mistrust within the firms themselves. But it is precisely this internal failure of confidence that could further deepen the problems resulting from the crisis. Today, from one moment to the next, the (chief) executives of companies are being forced to take on the role of practising crisis manager. Suddenly we have to function as highly professional crisis-management... [continues]
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