Risk Prevention Systems vs. Crisis Management

WB Risk Prevention Systems Crisis Management
What's in a name and who cares?

Well, we at WB Risk Prevention Systems care, and maybe... so should you.

A contribution from Marcel Hagens

Let’s go back to the year 1942 in Princeton USA, where Albert Einstein casually strolls the university campus grounds with his teaching assistant. “Professor” the assistant asks, “the final exam you just gave to your senior students, is that not exactly the same exam you gave them last year?” Einstein answers “Yes it is.”

“But Professor, how could you do that?” the worried assistant asked. Einstein simply answered “ Because the answers have changed!”

Today, even more than in 1942, we are living in an ever changing world. What is right today might be completely wrong tomorrow. Technological, medical, social, economic and cultural developments have never before happened so fast.

So yes, the same question will definitely require a different answer in order to stay relevant.

How, and if we adapt over time decides if we are capable to survive. As a company, organization, or institution you have to continuously scan the playing field. Are the rules changing, are the players changing, and are we even still playing the same game?

Good examples are Kodak and Fujifilm, in 2000 at the start of the new century Kodak owned 80% of the global color film market and Fujifilm was a small Japanese player in the same market. 10 years later Kodak had lost 50% of its sales revenue and was facing bankruptcy.

Where Kodak failed to notice the reality of the digital revolution and adapt their business model, Fuji identified unexpected opportunities in their (film) product for other markets, like cosmetics, invested in innovation and diversification and not only managed to survive the film crisis but Fujifilm transformed into a resilient industrial conglomerate and by 2010 had grown their sales revenue by 60% compared to 2000.

Now how can this be translate to Crisis Management and Risk Prevention Systems?

In 2010, Kodak needed a crisis manager. Early warning signs in previous years were either not noticed or neglected until the bubble burst and the situation spiraled out of control. The crisis manager had to pick up the pieces and help leadership clean up the mess and look to the future. But the genie escaped the bottle and will never return.

Fujifilm mastered a risk prevention system. They looked at the playing field, noticed the game was changing (identified risks) and looked for solutions and innovative answers how they could adapt to this changing game (prevention and mitigation). Options were discussed and tested, and eventually they averted the crisis (this time) and thus need for crisis management. They succeeded in keeping their genie in the bottle.

We at WB Risk Prevention Systems will help you identify and understand the risks that threaten your playing field. We will help you find solutions while triggering and channeling the innovative "healing power" of your organization. If you would like to learn more, you can contact us here.

Client and WB combined will work towards a resilient organization. We will provide you with the tools for the future which enable you to keep asking the right questions because as you know by now, the answers might have changed again. And if needed our continued support is always only one call away.