British Airways: solving emergency situations

There is a lot we can learn and apply to life from the way BA handled a recent crisis.

11:11 27 May 2013

British Airways proved they are more than capable of handling a crisis situation with the utmost efficiency and precision.

 

If we took care of our own financial matters in similar fashion it would probably make life a lot easier, though we may not always receive the same level of co-operation from banks or other people.

 

Here are a few ways to ensure that you can prevent a crisis in your financial matters.

 

• Worst case scenario—no one likes to think about the worst case scenario whether it’s for financial matters or other aspects of life, but it’s important to consider what a worst case scenario might look like so you can plan to compensate. It may never happen, but if you’ve planned for it, you’ll just be that much better off later.

 

• Savings—this is essential. Having savings could be the one factor that stands between recovering or handling a financial crisis or turning an already poor situation into a financial catastrophe. Your financial matters won’t be able to weather any kind of crisis if you don’t have at least some savings.

 

• Immediacy—if you notice that something is amiss in your financial matters, procrastination could exacerbate the problem. Notify the proper institution right away and they’ll be able to provide you with additional instructions and possibly advice on how to proceed.

 

• Cooperation—just like British Airways depended on many other entities to help them prevent a crisis; we rely on our banks, businesses, or others to help us with our financial matters. Treating others with kindness and respect will usually help you gain sympathy from those who have the ability to help, and will create willingness to help.