In this five-part series, Mike Volkov and Tom Fox consider COVID-19 from a variety of angles and perspectives; from the Board of Directors, the CCO, the ethical company, new laws and regulations, crisis management and leadership. In this second episode, we consider the role of the Board of Directors and crisis management. Highlights from the podcast include:
- Companies have three significant initial hurdles in the COVID-19 context:
(a) Can the business continue to operate while protecting health and safety of employees and stakeholders?
(b) If so, how can business continue and operate efficiently?
(c) What will be impact on business from discontinuation of related industries?
- Are you assessing your risks in an ongoing and (almost) daily updating manner?
- What are your scenario-based financial analyses relating to capital, liquidity, financial health and survival?
- What is your succession planning?
- Security, data protection and privacy protocols.