As organizations move from rapid response to thoughtful recovery and organizational resilience, leaders need to centralize and empower a command center to direct action on the process of rebuilding, restoring, and recovering.
The COVID-19 crisis is not a single, one-time event, but a series of circumstances that are constantly updating with new information and directives, and businesses must be able to adapt continuously. Leaders need to be resilient and encourage that same resiliency in their organizations. It is important to understand the impacts of the crisis, and to drive shifts in behavior that will ease employee concerns as well as enable business continuity.
Although the full impact of COVID-19 is still unknown, many organizations are being impacted by declining sales and reduced consumer demand, supply chain disruptions, and transport restrictions. These issues will have a domino effect on global markets with the escalating risk likely to impact those not yet directly affected by COVID-19. These companies need to consider their pandemic preparedness measures and be proactive and prepared. This article focuses on risk identification and organizational exposure; identifying critical dependencies; and how to develop pragmatic and effective crisis and resilience solutions.
“Black Swan” events are the most unpredictable, game-changing events to impact our global economies, ecosystems, businesses, leaders, and their teams. To fully triage and stabilize their organizations to meet the crisis at hand together, success often hinges on executives’ ability to create high-performing, effective teams to manage proactively, positively, and calmly from a position of strength throughout uncertain times. Done well, companies and groups can leverage every layer of their structure to provide continuity—their leaders, workforce, teams, organizations, and their ecosystems. This article provides a few simple steps for preparing leadership teams to be ready, able, and willing to adapt how they organize, operate and behave in these uncertain times.
COVID-19, oil price shocks, and travel bans are all creating uncertainty regarding the current business environment. And as the impact of COVID-19 becomes more permanent, it is important that businesses are proactive in assessing their capability to withstand disruption and the options they have to identify, and respond to, potential opportunities. This article discusses the role scenario-based forecasting can play in navigating company finances through this level of uncertainty and disruption.
Managing a complex and fast-moving crisis like COVID-19 can be extremely challenging. The greatest damage to an organization often lies in unsuccessful management of the situation, rather than in the effect of the crisis itself. A swift, effective response will significantly alter the outcome of the crisis and minimize its impact; a random, uncoordinated response will almost certainly exacerbate it. This article discusses the steps companies can take to help ensure their response to COVID-19 is well-managed and effective.
The majority of companies that are better prepared to mitigate the impact of COVID-19 have implemented an organizational resilience approach. An important aspect of this approach is the inclusion of lessons learned from previous events and disruptions, such as the SARS (2003), H1N1 (2009), and Ebola (2014-2016) global health emergencies. This article discusses how, post-crisis, it is important to capture lessons learned and identify organizational improvement opportunities for use in future emergencies.