Why Every Business Needs a ‘Plan V’
The disruption to world travel and commerce by an Icelandic volcano is just the latest indicator of why companies must have alternate strategies, writes Hal Sirkin.
“Nine months ago when my wife, son, and I went hiking on the glacier covering Eyjafjallajokull, the Icelandic volcano that recently blew its top—shutting down transatlantic and European airline travel—little did we imagine. And that’s the problem: Little did anyone imagine.
“When transoceanic travel was limited to the high seas, the eruption of Eyjafjallajokull didn’t matter. Today it does. As a result of the volcano, more than 100,000 airline flights were canceled over the course of a week, costing the financially hurting airline industry more than $1.7 billion, according to reports. As of this writing, some airports in the U.K. and Ireland are closed due to the latest ash cloud.
“Every company should have backup plans, contingency plans, worst-case-scenario plans; call it what you want. To paraphrase the late actor Karl Malden: In our global economy, “don’t be caught without it.”
See Why Every Business Needs a ‘Plan V‘ by Harold L. Sirkin for Businessweek.com
Tags: Eyjafjallajokull, preparedness, volcano
