Why nobody prepared for the current crisis?

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Crisis Management > Best Practices > Why nobody prepared for the current crisis?

Why nobody prepared for the current crisis?
The article above explains that it's important to prepare contingency plans in advance, before an actual crisis occurs.
Isn't it remarkable that neither governments, nor financial regulators, nor financial instituations seem to have created any contingency plan for the current global crisis?
Surely they all should have seen it coming..."

No crisis preparation
Nobody had prepared for this crisis because nobody new what the CEO's have been doing. They where swimming naked until the tide went low that is when the secrets were disclosed. *BBC

Preparation in Crisis Management
Leon Breedt
Well people don't prepare for crises because they don't take it serious, and they have the attitude that it won't happen to them. It can not be expressed enough on how important it is to be prepared for any Crisis at all.

It's human nature
Environment pollution; overpopulation; shortage of resources like water; food shortage.... we have been warned thousands of times but it is just human nature not to care or take action. It is just the way we were designed.

How do you make a jobless more happy?
Tran Hoan
If you ask me "why nobody prepared for the current crisis?", i am just thinking about happy feeling inside of him. It's not an advantage.

The greatest crisis
Limo Sammy
How comes that whenever people are told the truth they shy from it. The Bible clearly states that all these things we call crisis will happen, yet we still don't believe even before our own eyes. the remedy is to repent and go back to God.

World Crisis
Adeosun Leke
The USA that call themselves the world giant have no good head. Bush, he has no time for the prosperity of the world but instead war, destruction of property and all the rest.

J. Wiley
How quickly people persecute! I represent a country who is fighting the war on terror. We support freedom in the world. We fight for those that are raped, tortured, stolen from, and are illfully represented. Pray for peace around our globe, as many Americans have represented countless good deeds in this world and are deserving of support.

Crisis is Black Swan
Dr. Uditha Liyanage
The assumption that is made about the ability to predict the nature of the crisis with high/low probability may well be flawed. The crisis to be, may be a veritable "black swan", and the prescribed steps of crisis management may be of little use.

Man can't think seriously about crisis
Madhav Bhetuwal
The current challenge of the world is crisis management. Nobody is shown inactive. Lack of strong plan and lake of implementation smooth process is the reason of the crisis. Man can't think seriously about crisis is the major reason. Economically fluction between poor and rich is also a reason of crisis.For managing the crisis equal distribution of economic and non economic wealth I think is most powerful.

Crisis in the economy
Prof. Thomas Keel, MBA
When governments meddle in the free market, crisis occurs. The more governments impose corrections, the worse the crisis becomes.

Crunch Solution
Ahmed Mehdi
It's a game played from huge transaction mark-ups of banks which has an impact generally on trading and on common people of rich countries, only solution to bear the cost of mark-up bank themselves rather imposing generally and they should seek financial support from institutions like the World Bank, IMF and the European Union as well.

You can't prepare for this crisis
Wael Monakel
Such in Finance, there is something called BTL and ATL. If any executive in the institution can see the crisis coming, then it will become an issue, and with the ABC of the Business they will solve the issue and avoid any disorder. The crisis are another scenario, it's something you can't see or prepare yourself for it, it's something that can happen and you have to deal with it as is. Good management is to come out from the crisis with minimum loss.

Remain grounded in our Faith
Connie Sue
The challenge is to be aware of the crisis yet remain grounded. Listening to the unemployment rates, continued job layoffs, and bank failings causes the heart to fear. We must remain grounded in our Faith. This is also a time to reassess our priorities. We have to go back to the basics. Family, love, togetherness and being our brother's keeper.

Crisis management is like insurance
Khumbo Shaba
We all need to plan for something like a financial crisis. However, too much of risk management limits the creativity and innovation potential of individuals. Creating good products such as financial instruments requires some degree of creativity. However, it is important to have strict regulation in place.

No world without crisis
Fonchi Denis
In as much as man continues to live in this world, there will always be crisis. Some will be natural and others man-made. It is impossible for man to predict when crisis will occur. The important issue is for man to master how to manage crisis once they occur. Good crisis management is the one whose after effects on nature is friendly i.e does not cause harm.

Crisis Management
Christopher Bean
It is too easy to say that no one was prepared - some were very much prepared as early as Jan 2006 when the flows within the global markets clearly indicated that the viability of the system had changed and its validity was no longer sustainable. Just because auditors and credit agencies continued the nugatory sophistry of verification against international accounting standards should not be an excuse for strategists and managers to have continued mechanistic thinking; when the reality was in reality there for everyone who has even the a basic understanding regarding the nature of complexity to observe and prepare.

What we have to do now is Recover
Dave Saunders
Instead of worrying about the gloom and spiral downwards, stop being negative and start being positive. People did what they could to prepare, where it was possible for what they knew. What we have to do now is recover, stop listening to the gloomy press and start to grow our internal business structures again.

The Dumbbell Strategy
As I have learned recently with the real estate retirement plan, "I am in control until I am not". We can organize, prepare, beforehand, and mitigate after, maybe. The most sensible strategy I have found but until this lesson only partially implemented, is the dumbbell strategy, one side you place all valued elements into security that is "guaranteed' e.g. cash into Govt bonds, and the other side place the elements you want to risk at play and go 100 miles and hour, to maximize return. The reason we don't prepare to the nth degree, is that we are always learning, developing, risking. Also to be that risk averse implies a huge burden in redundancy, that people and businesses are not prepared to carry, as it is not cost competitive to do so, in the short and intermediate term. I like risk, now I pay. Unfortunately I now have to rebuild from scratch, well not from zero exactly as i now have a more balanced strategy and have experienced the consequences. The best we can do is pass the education on.

Poisened Challice?
Randi Erentzen
This is not a "reaction". Semantics or not, mine is a "responsive engagement".
There is a view that I share which says that: "crisis/crises", is "created" by the "quantum" and/or the "butterfly effect". This particular crisis 'may' have been designed to hand President Barack H Obama "a poisened challice".
In SA 1994, we were handed over a "very poisened econimic challice". We were set up to fail. We did not "sip from the cup". That is Minister Trevor Manual can speak with an African confidence that no-one else.
I am obviously not an economist. Herein lies my view: Does the world we live in belong to the Doomsday Prophets? I think not.

Wake up America
If you are in any religion it speaks about this happening. This is nothing people did, nor have knowledge of, this is what people have taken for granted. I think that people can do more postive things by taking the time out to do postive things by becoming creative.

Move On
Don't ask why just do and move on! If you allow your thoughts to only focus on the smaller things then you will never see the bigger picture.

Crisis is Man Made
Ramesh Bandhoa
We human beings are responsible for the crisis. Management consists of humanbeings who looks for himself. "Beating the bush to gain self interest"" is the present moto.Even at our home we don't care to contribute for improving theis problem. The only solution is found within every idividual and nowhere on any platform outside, who will contribute for every drop to sliminate the crisis collectively and individually.

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