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Perspectives

Business recovery from COVID-19: A Guide for Board Members

As boards steer their companies through the COVID-19 recovery journey, they can use the Resilient Leadership framework to guide them.

Key questions to ask management include:

Resilience as a way of being

  • What have we learned to incorporate into the business permanently?
  • What silos were broken down during our initial response and how can we make them permanent?
  • Where did we find our operating model was unable to handle the crisis?
  • What other changes to the business model are implied by the crisis?

The mindset shift: From today to tomorrow

  • Situation and Management: Is the tone shifting from crisis management to interim-term program management?
  • Focus: Has the company pivoted to a market-facing focus?
  • Planning: Are scenarios being considered and how they are impacting the Recover plan?
  • Attitude: How are we reinventing the business? What new business models need to emerge?

The only certainty is …uncertainty

  • What is the impact of the five uncertainties on the Recover plan and future?
    • Changing social contract
    • Changing roles and rules of institutions
    • Unpredictable cash resources / capital needs
    • Permanence of customer / consumer behaviors changes
    • Changing expectations for physical, emotional, financial, digital safet

Trust as a catalyst of recovery

  • How has trust been built up (or deteriorated) in the organization during Respond?
  • Where/how does trust need to be further built to enable the Recover plan?

Anticipate the destination

  • At end of Recover:
    • What does “success” look like?
    • What is the expected timeframe for “Recover”?
    • What are the critical factors which would modify the timeline?
    • What impact will each of the five “uncertainties” have on the destination?
    • What are the other “unknowns” which could modify the timeline?
    • How has management answered each of the core strategic questions related to stakeholder outcomes?
    • Is the Recover PMO team equipped and resourced? Are responsibilities defined?
Business recovery from COVID-19: A Guide for Board Members

The Board’s journey through Business recovery from COVID-19

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