What causes most organizations to close following an unexpected economic disruption? Usually it is cash flow. Many organizations don't have enough cash on hand—or access to enough working capital—to survive a temporary revenue downturn and/or the costs of restructuring their business models and bringing them to profitability. That is why a cash management plan is an essential part of any crisis management program (see Strategy In Uncertain Times: Planning Resources For The New Normal). There are a few key elements to cash management— negotiating extended payments to vendors and more speedy payments from customers where possible, streamlining operations to reduce…
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