Industrial SMEs have the best crisis managers
The industrial SME sector in Germany has the managers with the most crisis experience. This is the conclusion of the new study "Restructuring 2021" by management consultants Staufen, for which more than 200 owners and top managers of companies with annual sales of at least €20 million were surveyed. Four out of ten companies have real crisis expertise, while a further three out of ten attest to sufficient routine.
"The Corona pandemic has made it clear how important it is to have a fast-acting decision-making culture at management level. German SMEs are well positioned in this respect. Among the companies we surveyed, 39 percent give themselves a good report card and say they have experienced management when it comes to dealing with crises. A further 31 percent believe they are rather experienced," says Andreas Sticher, Partner for Restructuring at Staufen.
But there is a need to catch up: Only 47 percent of the companies surveyed work with a structured process to put future viability to the test. And only 49 percent regularly play out crisis scenarios and possible countermeasures. "Companies need to think in scenarios and play out different defense mechanisms. It's like in football: everyone knows how to take a corner, yet the teams regularly practice this standard situation," emphasizes Sticher.
Risk management systems
The study shows that classic systems and key figures dominate early crisis detection. 48 percent use their own risk management system, which is the most frequently used variant for identifying potential problems before they threaten the company's existence. This is followed by financial key figures (47 percent) and tips from managers (44 percent). "More modern management tools such as trend radars or data-driven approaches such as data analytics are ideal for expanding or even completely replacing classic systems for early crisis detection," says Sticher.
According to the study, however, these approaches to predictive analysis are not yet in widespread use. Sticher advises a rethink, as "new predictive models enable management to optimally align business strategy with the respective situation".
Source: pressetext.redaktion, Florian Fügemann
