Emergency Measures and Good Communication – Acting Immediately and with Transparency
As soon as the crisis has been detected, you must be on the lookout for any open floodgates and “icebergs” that pose an existential threat to the company and that can and have to be eliminated, regardless of the restructuring concept and the overall solution that has been agreed upon.
In order to impose emergency measures and to confidently control communication in times of crises, you need to be determined, open to make decisions and be able to objectively evaluate the process. In situations like these, HANSE Consulting can act as a neutral third party and ensure that the situation is handled objectively and in a targeted way.
Important Emergency Measures
- Secure or increase the line of credit
- Lease, don’t buy
- Evaluate and eliminate insolvency offences
- Come to standstill agreements with banks and suppliers as well as trade credit insurers
- Cease all non-vital spending
- Collect and secure claims faster
- Apply for public funds
Having an inefficient communication policy or not having one at all means that rumors or speculations may emerge. This in turn may lead external and internal stakeholders to take knee jerk decisions and to act in a disloyal way. By communicating in a targeted way, tensions can be relieved and trust can be established. Management should especially focus on complying with existing legal norms and contracts to overcome the crisis, maintain a complete overview and ensure transparency.