The Everest scenario is constantly at play in many organisations.
Organisations that are successful respond to crisis the ways David responded to the situation by putting in place preventative measures.
While organisations that shut down or file for bankruptcy during tough times are those that respond to crisis the way Rob responded to the crisis.
As we saw, it all came down to preparation.
David was well-prepared and when he noticed the situation was becoming challenging, he changed his strategy.
As author Jim Collins highlighted in the book, successful businesses carried three to 10 times more cash reserve than their comparison sets….Their equivalent of oxygen canisters—to prepare for unexpected events or bad luck when they strike.
Successful businesses maintained more conservative balance sheet than their comparison sets.
Successful businesses zoom in and out, remaining hypervigilant to changing conditions, and respond effectively because they understand that they cannot reliably and consistently predict the future.
They focus on their objectives and sense changes in their environment.
They push for perfect execution and adjust to changing conditions.
When they sense danger, they immediately zoom out to consider how quickly a threat is approaching and whether it calls for a change in plans.
Then they zoom in, refocusing their energies into effective executing.
How Prepared is Your Organisation for Cyber Attack?
Cyber attack is obviously a rising threat to many organisations.
However, many organisations are not taking the necessary steps to prepare for the day their organisation might be the target of a cyber attack.
To simply sit and hope that your organisation does not become a target of cyber attack is reckless to say the least.
Every organisation that is of any value has a bullseye on it.
Senior leadership in every organisation needs to recognize this reality and prepare accordingly.
The most effective form of preparation against cyber attack is to conduct periodic penetration testing.
Penetration testing provide organisations the opportunity to identify vulnerabilities before they are spotted by hackers.