Volcanic impact on business
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I spend plenty of time talking to students about the need for effective business contingency planning to cover various ‘what if’ scenarios. But I’m entirely ready to admit that ‘volcanic eruption closes European airspace for several days’ was not one I’ve anticipated.
A quick round up of some of the issues for firms as the disruption enters its fourth day, with further delays anticipated.
It’s clearly bad news for an already struggling aviation industry which The Economist begins by covering.
The BBC are quoting figures like “$200m a day” for the impact on the industry and look at some of impacts on other firms that are dependent on air freight.
The Times looks at the wider impact on our ‘just-in-time society’ which is of particular relevance and interest to Business students.
But for a quick summary, the BBC have again come up with a nifty quick clip that draws several of these ideas together (and quoting the cost to airlines as £28m a day – just going to illustrate how uncertain the impact of this event will be as it unfolds).
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