“What now?,” asked a recent McKinsey article on the implications of Covid for business. “Over the past six months, they have reorganized supply chains, set up remote operations, and made tough financial decisions. But without a COVID-19 vaccine yet available, not much feels different, and the summer pause hasn’t done much to relieve fatigue.”
“One priority, then, is to reenergize the organization - to act rather than react. Even as the COVID-19 crisis continues to create a world of uncertainty, the goal must be to rebuild for the longer term. Companies that are strong and resilient will be better placed to survive and prosper. Those are qualities that can’t be taken for granted; they need to be cultivated.”
But, how can a company, - regardless of size or industry, - formulate a rebuilding strategy for the longer term in such an uncertain environment? As former president Dwight Eisenhower famously said when he was the overall Commander of Allied Forces in WWII: “In preparing for battle I have always found that plans are useless but planning is indispensable.” In other words, rather than doing so on-the-fly, planning during highly uncertain times requires that companies thoroughly map out their rebuilding strategy, and quickly and flexibly react to the continuing changing circumstances.
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