COVID-19: TMA CROATIA SUPPORT & RESOURCES
It’s how we respond to a crisis that makes the mark of a TMA Croatia adviser
Our members are at the forefront of a turnaround during good times and bad. With the news changing daily about the impact of COVID-19, how the crisis persists and dominates our market and how much disruption it causes are still unknowns. With the financial market selloff, it’s clear these unknowns create uncertainty.
Those in the turnaround industry are and will be called upon to advise and lead.
So how do TMA Croatia and its members respond to COVID-19 and how do we support our clients during this time? First, we must look at the number one reason cited for failure, namely “poor management”. It’s not that boards or management of all failed companies are poor boards or managers, it’s most usually that they didn’t respond well to adversity and the circumstances prevailing in a crisis. How and when boards and managers respond is one of the deciding factors in success or failure of a turnaround. The most frustrating thing is to see boards and management not respond or respond too late to the circumstances.
TMA Croatia members can assist their clients to respond to the crisis in a way that is measured and seeks to control the knowns and prepare for the unknowns. As a TMA Croatia member, remind yourself that TMA Croatia members undertook the most significant and value restorative turnarounds during other major corporate and market crises. TMA Croatia is part of the international community organized under TMA Global and TMA Europe. TMA is the only organization 100% committed to corporate renewal, our members will rise to the challenge and restore value during the COVID-19 crisis of 2020.
Instead of organizing live events, we are considering organizing webinars and other online events. Please check regularly our website and social networks for updates, and subscribe to our e-newsletter for the latest updates on our insights and activities.
We remain committed to providing the same high-level support to the corporate renewal industry operating remotely enabled with IT infrastructure that we have in place. We fully support all the safeguard protection measures that the Croatian government and other governments in Europe and around the world have imposed to contain the virus, including in particular limiting social interaction in person. Despite the measures, our work can continue uninterrupted. We shall keep all our members and interested public updated with the latest news on policy responses and resources on how to cope with this unprecedented crisis. We remain available for contact for further information and support.