Prepare for a financial crisis in advance

Author: Fang Xiangming
Publisher:
Publish Date: 2002-09-01
Features: McKinsey High-Level Management Series. In recent years, with the frequent outbreak of financial crises, a major issue businesses face is how to avoid becoming victims of these crises. Statistics show that over 65 severe financial crises have occurred in the past decade, nearly 1.5 times the number in the 1980s. Despite this, many companies still have not prepared adequately for financial crises. The cover story this issue, "Prepare for Financial Crises Before It's Too Late," points out that the more prepared a company is for a financial crisis, the more likely it is to survive the crisis and even establish a strong position to emerge from chaos and move toward prosperity. This issue's series also includes articles such as "Foreigners Take Over Nissan," "Retailers' 'Travel' Tips," "The Computer Industry: Why Did the Team Break Up?" and "Seize the 'Real-Time' Strategy to Navigate Changing Times," which are sure to offer readers valuable insights.