Most businesses have faced some crises in the past two years, but only 20 per cent have an adequate crisis management program. This article in the CEO Magazine argues that while crises are foreseeable, they are not predictable. It further explores how a business crisis can catalyse experimentation and innovation and how to effectively prepare for and respond to such crises. The article provides examples of companies that have successfully navigated crisis-induced pivots by adapting their business models or products in response to a crisis, such as Starbucks, Wrigley, Avon, Nokia and Netflix. The article suggests strategies for conducting experiments in a crisis situation, such as focusing on competitive advantage, launching new ideas quickly, gaining visibility over the organisation, and aligning corporate goals.



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