|
|
Emergency Procedures Required
 Recently, the nation was amazed by the outcome of
US Airways Flight 1549. After birds rendered his
engines powerless, Captain Chesley Sullenberger
calmly glided his plane into the Hudson River with
no loss of life.
Shortly after this incident, I read an article that listed
the four things pilots are trained to do when
experiencing an emergency in flight. They are:
- Maintain control of the airplane,
- Assess the situation,
- Decide what to do, and
- Do it!
I realized that there are direct parallels with what was
necessary to survive this incident and the economic
situation companies find themselves in today.
First, when the engines quit, the pilot no doubt was
startled, but he maintained control of the aircraft.
Similarly, with managers seeing sales and profits
quickly eroding, it would be understandable if they
took their eyes off of the controls. However, that is the
worst thing to do. Customers still call for service,
mission-critical projects still need to get done
properly, and planning must continue, albeit with
shortened horizons for the time being.
Second, management needs to calmly assess what
is really happening in the organization. If sales are
declining, what percentage is due to decreased
market demand versus customers going
elsewhere—where service, support, products,
and pricing may be better?
Third, deciding what to do is made a bit easier if the
assessment is on target. Captain "Sully" knew his
engines were rendered useless, but he was not alone
in this crisis. He was working with Air Traffic Control
(ATC) to determine if there was an alternative airport
close by where he could land safely.
Fourth, knowing there was not time to get to an airport,
he decided to land in the Hudson. Mixing in these four
steps with the appropriate level of communication
kept everything under control, averted panic among
the passengers, and contributed to the successful
outcome.
No one step is more important than the others, but
they do build on one another. Maintaining control of
operations is essential so that a bad situation does
not become worse. Making the right assessments
points the way to the appropriate action. Getting help
with those assessments from a knowledgeable and
trusted advisor assures that all reasonable
alternatives are considered.
Finally, settling on the right course of action and
properly implementing it increases the chances for
success—and, most importantly, affords the
opportunity to "fly again" in the future.
|
|
|
NOLAN'S LIFE & ANNUITY INDUSTRY SURVEY
We invite you to participate in Robert E. Nolan
Company's new Life & Annuity Industry Survey. The
market is in an era of unprecedented change, so we
have designed this survey in order to explore and
provide analysis on the emerging strategies being
undertaken to profitably address those changes.
If you have participated in past Nolan surveys, you
know the value they provide in the form of insights and
perspectives into key strategies being undertaken
across critical functional areas. The findings and
analysis help bring perspective to the dynamics that
will shape the industry in the coming years. There
is no cost to participate, and the survey can be
completed online or submitted via fax or mail. Once
the survey results are tabulated and analyzed, Nolan
will release a comprehensive findings report later this
year.
|
|
|
PROPERTY & CASUALTY SURVEY REPORT
OPERATIONAL PRIORITIES FOR PROPERTY AND
CASUALTY EXECUTIVES
The Robert E. Nolan Company recently conducted a
survey on how industry executives view the property
and casualty industry's future and what factors they
believe will shape it.
The Nolan Property & Casualty Survey captures more
than 100 top executives' views on the industry's most
pressing issues and their companies' plans for
tackling and overcoming the challenges of the current
volatile insurance environment.
|
|
|
Join Us...
IASA'S EXECUTIVE EDGE
CONFERENCE
September 13 - 15, 2009
Gaylord Texan Resort & Convention Center
Grapevine, Texas
More
Meet Onsite
LOMA POLICYOWNER SERVICE SEMINAR
September 16 - 17, 2009
Hyatt Regency Grand Cypress
Orlando, Florida
More
Meet Onsite
LOMA CONTACT CENTER WORKSHOP
September 16 - 17, 2009
Hyatt Regency Grand Cypress
Orlando, Florida
More
Meet Onsite
IASA CENTRAL STATES REGIONAL
CONFERENCE
September 24 - 25, 2009
The Hilton Lisle
Naperville, Illinois
More
Meet Onsite
CAHP 24TH ANNUAL CONFERENCE
October 19 - 21, 2009
JW Marriott Resort & Spa
Palm Desert, California
More
Meet Onsite
BAI RETAIL DELIVERY CONFERENCE & EXPO
November 3 - 5, 2009
Boston Convention & Exhibition Center
Boston, Massachusetts
More
Meet Onsite
TEXAS RURAL HEALTH FORUM
November 9 - 10, 2009
Hyatt Regency Austin
Austin, Texas
More
Meet Onsite
IASA TEXAS CHAPTER FALL MEETING
November 20, 2009
Las Colinas Country Club
Irving, Texas
More
Meet Onsite
We welcome the opportunity to meet you in person at
any of these events. Click "Meet Onsite" to send us an
email with your contact information. We'll be in touch
to arrange a convenient time to meet you at the event.
|
|
|
2009 Nolan Events and Sponsorships
|
|
|
Previous Nolan e-Newsletters Online
Past articles from Nolan Spotlight, as well as Nolan's
other e-Newsletters—Bank Statement and
Trend Line—are now available on our Website.
Follow the link below to browse the archives.
|
|
|
