When individuals and corporations are facing difficult times across all industries due to COVID 19 crisis, two worldwide security services providers hold the key to the solution of business houses as they can assess risk emanating out of this viral outbreak and tailor their solutions.
LONDON, UK / ACCESSWIRE / May 12, 2020 / Walter Soriano, the CEO of USG Security Limited, believes COVID-19 may have inflicted a rude blow to the global economy but it should not cause panic as the crisis can be managed with tailored corporate recipe.
According to Soriano, corporate entities world over can get over this by optimum use of crisis management tools offered by the UK-based USG Security Limited and WS London Management successfully staging corporate survival.
In a statement, Soriano said these two worldwide security services providers hold the key to the solution of business houses facing COVID-19 crisis as they can assess risk emanating out of this viral outbreak and tailor their solutions.
Having proven record of solving corporate crisis during the 2008 global financial meltdown, the USG Security and WS London Management is again in the frontline of crisis management with their expertise in solving disputes between individuals, corporations, financial systems and also government.
Describing the dire scenario of 2008 gripping the global business structure, Soriano pointed out that there was total lack of faith among the business partners during that time.
The situation came to such a pass that many in a business partnership learnt that their partners did not have the resources they claimed to have or that they had hidden money in offshore structures.
The Covid-19 Caused Economic Crisis of 2020
It was at that crucial juncture when a large number of our security clients started asking us to advise them in crisis management, as well, Soriano said adding that happened as the world suddenly woke up to major collapse of the collapse of the financial systems, which today we know was caused by an inflated bubble.
A corporate Guru, Soriano further elaborated saying "When that bubble exploded, the financial world was never the same again creating panic among the business owners and corporate entities. And a mass frenzy and panic gripped the entire domain of business, trade and commerce.
The Covid-19 caused economic crisis of 2020 is a brute reminder of financial mayhem of 2008 caused not by a virus but by the Sub-Prime crisis. As the professional acumen of USG Security Limited and WS London Management bailed many people out in 2008, it also is doing the same in the crisis-ridden year of 2020.
Due to the gravity of situation arising out of COVID-19, many businesses may shut down making their employees rendered jobless. The question that now grows out of proportion is how can companies survive, and perhaps even flourish?
"For many, USG was the trust factor after getting years of personal security, business security, data protection and so on. That's why, when the 2008 crisis started, it was natural for many of our clients to turn to us for help. After several cases, we started developing our own doctrine of crisis management", says Soriano
In times of crisis or panic, people asses quite quickly who are the factors that they can rely on and turn to those they consider the most trustworthy.
The USG Security Limited, Soriano said, acted as "trust factor" for many during the 2008 crisis and offered successful solution to companies helping them take U-turn by developing their own doctrine of crisis management.
Managing Corporate Crisis In Its Real Perspective
Suggesting stages needed to be followed in managing corporate crisis, Soriano said we must first understand the word ‘crisis' in its real perspective and then get into the "problem". In his opinion, "a crisis is when an individual or an entity suddenly confronts such circumstance that they don't know what to do?"
Specifying his standpoint, Soriano gave a hypothetical scenario under which you find out that your partner is stealing from you and there is no clear solution to it.
If you go to the police and start raising havocs, may be the banks will close your accounts, tax authorities will come after you and creditors will persecute you. In this situation, "the remedy calling the police) could be potentially worse than the illness".
As crises, being complex problems, call for complex solutions, Soriano said his process in addressing such complex issues is to first assess the problem. Sometimes, the clients tell very one-sided stories or are unaware of the facts.
Naturally, we need to investigate at length, exhaustively, and go into the details before we can diagnose the problem. Only then, we can understand it. Solution to such problems must match reality of the individual case and tailor-made.
Crisis Management Requires Wider Scope of Thinking
Soriano said COVID-19 brought to fore the fact that neither the free market nor governments can foresee every crisis and have pre-planned emergency bailout plans for everything. Naturally, when you manage a crisis, take into consideration a much wider scope of thinking, not just a single isolated factor.
In this case, total isolation might take care of one aspect of the pandemic, but what are the side effects? Soriano questioned.
His answer to the business owners to manage the current crisis includes not to get influenced by media's hysteria, work out a realistic plan according to the circumstances, and never try to do something which is unsustainable and differentiating between unnecessary and necessary works.
SOURCE: USG Security Ltd
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