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Another crisis incoming?

COVID-19 has shown that strategic planning can be the difference between make and break. Alison Coleman takes a look at how businesses can mitigate future risk and prepare for the next global crisis

Economic analysisAlmost two years ago – 31 December 2019 – the World Health Organization was alerted to an outbreak of pneumonia ‘of unknown cause’ in China’s Hubei Province. Twelve days later came official identification of a novel coronavirus – and within a fortnight 11 million people were placed under tight quarantine.

Today, it’s clear the pandemic is far from over. At the time of writing in November, cases of Omicron, the latest COVID-19 variant, have just been detected in the UK and the impact the new mutation will have is uncertain. Many parts of Europe and beyond face new lockdowns, in spite of an unprecedented, coordinated international research effort to develop a vaccine, impressive vaccination programmes, global restrictions on travel and lengthy lockdowns.