Surveys, as well as our own eyes, suggest that many medium and small companies are still not fully prepared for Brexit, when and if it happens.
They may have been stockpiling essential raw materials to be prepared for disrupted supply chains. They may have restructured their workforce to be prepared for labour supply issues. They may have restructured their finances to tide them through cash flow difficulties. But what they have typically not done is systematically prepare for the unknown in our now uncertain, confused, confusing and turbulent times.
In this new UK business paradigm, in which turbulence in the World economy is magnified by local political issues, we face many challenges. Foremost amongst them is the need to Be Prepared, no matter what. As for boy scouts, the need for organisations and their managements to be prepared is not new, but its importance for the organisation to survive and thrive is now crucial.
Based on half a century of successfully working with organisations across the East Midlands and globally, Professor Tony Bendell has summarised what companies need to do into Six Key Points. He believes that these need to be addressed now, they cant wait. The points are not unduly complicated or difficult, but to address them companies will need real management commitment & leadership.
In brief summary, what is needed is for owners, leaders & managers to fully:
Be Aware & Vigilant, making better use of Internal & External data & information
Understand the Risks & Be Prepared to mitigate & manage them
Ensure they are in Control by verifying the effectiveness of their Businesses’ Governance
Make sure their Management systems & Operations are fully Effective
Be Efficient & Lean as practical
Be Agile in response to change & turbulence.