Over the past five months, I’ve reflected on the phrase “the perfect storm,” defined as a particularly bad state of affairs. I would say the current crisis—the combination of the public health crisis, financial crisis, and political crisis—meets that criteria. And as we look ahead at the organizational competencies that are stressed during any time of crisis, and particularly now, cash management is at the top of my list.
The most obvious reason is that cashflow is key to organizational survival during times of crisis. Even profitable organizations without sufficient capital can’t sustain. One of the . . .