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Being prepared

The February earthquake in Christchurch and then the March earthquake and tsunami in Japan have brought home to many of us in the tourism industry in New Zealand the need to have our businesses prepared for radical unexpected external change.

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In business, we often refer to 'risk management' as the way to build plans for dealing with business risks.  And if we're honest, many businesses of all sizes don't spend enough time identifying, assessing and working out scenarios for dealing with risks.  Small businesses have possibly the most to gain from dedicating time and effort to risk management, as they're less likely to have a formalised approach.

This is a big subject, and I'm not going to do it justice here, but there are some things that tourism businesses ought to be investing time on that will strengthen their capacity to deal with big external changes.  As we've seen recently, it's often too late once these things happen.

Read the rest of CE Kevin Bowler's blog here.

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Kevin Bowler

Chief Executive