Crisis Management
"Crises are best mastered by being approached!"
said economist Walt Whitman Rostov.
For you as an entrepreneur, this means you should recognize crises as early as possible to reorient your strategy. However, crises are not just a threat. They also open up new opportunities when you leave familiar paths and test new ones.
Crises usually develop over a longer period of time. As a general rule, this is the case with diseases in humans: if disorders are recognized in time and possible negative effects already treated with suitable therapies in the early stages, they are soon forgotten.
However, if they remain unrecognized or are abducted, sometimes even minor problems lead to serious complications. Transferred to companies, crises then end in over-indebtedness and insolvency.
Early crisis detection is not just a matter of entrepreneurial considerations. It's even prescribed to you by law. In many countries you are obliged to introduce a monitoring system in your company for the early detection and defense of developments that endanger the company's continued existence.
With over 20 years of experience as an entrepreneur, I have made valuable experiences!