Avida Blog

Is it sufficient to carry out crisis management training for people in your organisation once?


I live approximately five kilometres from the Queensferry Crossing. If you’ve never before
heard of it, this is a bridge across the Firth of Forth in Scotland, recently completed at a cost
of £1.4bn. If you enter it into your search engine, you will discover that it was necessary to
close it earlier this week, during storm Ciara for safety reasons. Needless to say, this has
been a huge inconvenience for local commuters and bad news for the Scottish economy.

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The importance of business disaster recovery plans. Investors and Pension Funds can learn much from the military’s approach to risk and crisis management


Military commanders face ambiguous and fast-moving circumstances, which can change in rapid and
unexpected ways. So, what if anything, can investors and pension funds learn from the military’s
approach to risk and crisis management?

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It’s the time of year when many financial sector institutions set out predictions for the year ahead


We’ve decided to have a go. Our selection contains at least a few you may be less likely to see
elsewhere.

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Can only financial market professionals design a crisis management plan for finance businesses?


I have experienced numerous crises in the global environment during my career. These
have included LTCM, the bursting of the dotcom bubble and of course the global financial
crisis. But the one I recall most vividly was Black Monday, not because I was caught in the
middle of the event, but because having been verbally offered my first financial industry role
a month earlier I realised my career might be over before it had even begun!

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Do our customers assume that as financial professionals we know precisely how to respond to a crisis?


What do our customers expect from us? We can recite a list of attributes that could apply both to us
as individuals and to our organisations; integrity, astuteness, professionalism and maybe even
intelligence! But it is undoubtedly true to say that first and foremost clients expect we will do what
we said we would do – to deliver on the terms of a mandate, the contract between us.

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The responsibility for a business' crisis management procedure is the responsibility of its board


In our industry lots of people travel and many of these fly (considerably more than they should – a
topic to come back to in a later blog).

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Because accurate financial crisis prediction can never be achieved is it pointless to plan for one?


Investors often joke that Economists are by nature pessimistic individuals with a common observation being that “they have predicted 10 of the previous 2 economic recessions.” So, what are we to make of the lack of accurate financial crisis predictions in the run up to the recent debacle and what that says about our industry?

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