By Allan Manning, Business and Law Victoria University of Technology Melbourne, Australia
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Additional info for Strategic Management of Crises in Small and Medium Businesses
Example text
Not being tied to a rental lease was thought to be an advantage, as it gave the business owner more flexibility. To determine whether this train of thought had merit and was a genuine variable to the survival of the business, the questions were asked. 12 - Insurance) suggested that having more than one location reduced the risk for a business. Those companies that had more than one location were specifically questioned as to whether the additional location assisted in the recovery process. Also under this broad category, details of the history of any previous large losses were examined.
The reasoning behind this was to determine whether the business owners took any time to consider the impact of a crisis on their business pre-loss, or if they took a ‘it won’t happen to me’ approach. Allan Manning Strategic Management of Crises in Small and Medium Businesses Page 46 The reliance on information technology was the next topic covered by the research. The reason being, to determine if the message of backups was now being followed. Further, the level of record loss that occurred, and what impact this had on business survival.
It is more appropriate in this study to examine the frequency and appropriateness of any Business Continuity Plan that the businessperson has in place at the time of the event. The aim of the study was to determine a model of strategic management for SMEs to utilise in order to minimise the risk associated with a crisis/catastrophe such as a fire. Variables that may be able to be used to predict the survival of a business following a major loss have been drawn from several models, and a detailed case study of one major loss.
Strategic Management of Crises in Small and Medium Businesses by Allan Manning, Business and Law Victoria University of Technology Melbourne, Australia
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