In today’s highly interconnected global economy, organizations face a myriad of threats of internal and external disruptions to business operations. Some risks can be planned for, monitored, and mitigated; but other high-impact, hard-to-predict events are occurring more often. Is your organization fully prepared to respond to disruptions?
Crises or catastrophic events typically occur within a compressed period, have the potential to critically impact a company’s ability to achieve its mission, frequently result in significant financial or reputational loss, and almost always require an immediate cross-functional and cross-organizational response.
Due to the unpredictable nature of a crisis and the potential impact on an organization’s viability, it is important for organizations to prepare in advance for both a crisis and a response. As part of our broad range of Advisory services across our network of firms, KPMG professionals assist member firm clients in answering these difficult questions:
- Are we prepared for a crisis?
- Do we understand all of our potential risks?
- Have we thought “outside the box” about our risks and responses?
- Do we have an appropriate response or responses documented?
- Do we have the right resources and advisors readily available in the event of a crisis?
Effective crisis planning and response can limit business interruption and the associated costs of a crisis and its aftermath. KPMG’s network of firms provide strategic and tactical insights and skills to help enhance organizations’ response to a crisis.