The continuity of business firms is based on the principle of ‘going concern’. This principle asserts that firms adopt measures likely to sustain them, and informs the projection of business risks, as well as the design of approaches to contain those risks in order to safeguard profit levels and market share.
Most businesses have the capacity to identify, determine and evaluate such risks. However, with the Covid-19 pandemic, there was no prior contemplation of the risks associated with such an event.
Now, faced with the ‘new normal’ of a Covid-19 affected world, businesses must design new ways of managing risk. In this short essay, Paul Ndibe FCILT examines these ideas using Nigeria as a case study. Read the full essay here
This is an example of industry analysis from Nigeria which we are sharing as part of our global best practice resource to help you think about and determine appropriate responses locally.