Question

What changes should managers and the board of directors make now to reduce to likely hood of an incident like this from occuring in the future?

Answer 1

Now one can't simply reduce the likelyhood of occurance of incidences like this. However, one can certainly prepare oneself to effectively fight against the same by deploying following strategies -

1. Prepare for multiple outcomes.

2. Scrutinize the present.

3. Constantly review of the conditions

4. Analyse & learn from startups

5. Start focusing on inputs & not just outputs

6. Agility is the key; avoid being lackluster while responding to new situation.

7. Build your company's image as extremely trustworthy