2020 may well go down in history as one of the most challenging years of the modern era. From the COVID-19 pandemic to civil unrest and a contentious political climate, this year required more flexibility and resilience from individuals and businesses than any in recent memory. Yet, these challenges also shed light on issues both old and new. And for those with an eye for opportunity, 2020 brought many lessons that can help grow and improve their businesses for the future.
Here’s what we learned about managing risk that we’ll carry into 2021.
Crisis management and business continuity planning
The disruption businesses in nearly every industry saw this year made one thing abundantly clear—you need a business continuity plan. It’s essential if you want to be truly prepared for the future and safeguard your business.
If you don’t already have a business continuity plan, make it a priority to create one as soon as possible. If you do have a plan in place, be sure to review and update it to include risks that emerged in 2020, including a global pandemic, civil unrest, rioting and vandalism.
When creating a business continuity plan, it’s also a…
