Be proactive when managing financial crises: Consultant.

(From The Star (Malaysia))

COUNTRIES and companies need to anticipate and minimise financial crisis and be proactive in managing them, said consultant Gregory P. Wilson, principal at McKinsey & Co, Inc.

"There are certain general principles and steps to be taken in the early days of a crisis ... understand and manage cash position, minimise operational risk, conduct scenario planning, prepare to divest unproductive assets, and maintaining the confidence of key stakeholders. Coming out with a vision and strategy and ultimately, the bottom line, we would be able to see a real continuation of improvement in standards across the board; be it in corporate …