There is a growing recognition in Latvia about the need for businesses to improve their preparedness for various crisis situations, including war, but current efforts remain inadequate.
A recent event aimed at enhancing crisis preparedness highlighted the necessity for companies in Latvia to improve readiness for multiple crisis scenarios, particularly in light of potential war situations. Experts stress that two primary factors are crucial for readiness: regular training for employees and having a well-structured crisis management system in place. These elements are essential to ensure that companies can respond effectively when challenges arise.
JΔnis Vanags, a board member of the Nordic Resilience Organization CIREN and a crisis expert, elaborated on key aspects that contribute to improved preparedness. He emphasized the importance of having comprehensive systems and plans, as well as the need for ongoing training for staff. Additionally, he noted that companies operate within an ecosystem that includes suppliers and supply chains, suggesting that resilience cannot be achieved in isolation. Thus, collaboration and preparedness across the broader business environment are vital.
Another critical factor mentioned by business leaders is the need for adequate funding to support preparedness initiatives. Investment in crisis readiness can yield long-term benefits, as customers tend to bear the costs of such investments through the prices they pay. Overall, while interest in crisis preparedness is on the rise in Latvia, concerted efforts and strategic investments are essential to ensure that businesses are sufficiently equipped to handle potential crises.
