Top 7 Leadership Priority Areas and the Greek Recovery and Resilient Plan Opportunity
Resilient organizations rapidly and successfully cycle through three phases – Respond, Recover and Thrive – not just in response to the current COVID-19 pandemic, but in any crisis they face, in order to Emerge Stronger.
Emerging Stronger is the stage where organizations must devise new strategies and operational models to thrive in the new normal.
In these months of emergency, changes have become an integral part of a new daily life. The pandemic has accelerated some ongoing processes and induced new ones: it is important that organizations and leaders are able not only to grasp, but also to anticipate these ongoing trends.
In order for organizations not to be caught unprepared in the near future and to continue to thrive, they will first have to treasure their past experiences and in parallel, rethink what it really means to "be resilient", developing a new more dynamic DNA that allows them to emerge stronger from the crisis.
On the other hand, a recovery of the current economic situation will not be possible without targeted EU interventions that complement national efforts and aim to support a sustainable, consistent, inclusive and fair recovery for all Member States while investing in each country’s future.
On March 31, 2021, the Greek government announced the updated version of the recovery plan called “Greece 2.0”. The plan will enable Greece to benefit from more than 30 billion euros (approximately €18.1 billion in grants and €12.7 billion in loans) while as a result of the expected leverage of private funds, Greece’s economy will benefit from more than 57 billion euros of investments.
If companies and their resilient leaders want to be well-positioned when the economic recovery occurs and avoid losing competitiveness, they must shun immobility and wait-and-see strategic approaches. Indeed, they must start today to build tomorrow’s success, while “re-shaping” their organizational models to project organizations into the most suitable dimension to seize future opportunities.
Moreover, in this transitional period, between the “Recover” and “Thrive” phases, companies cannot afford inertia; they must take immediate action. The call to action is not just for entrepreneurs and business leaders, but it involves all functional areas and all company levels, although with different tasks and duties.
To this end, Deloitte has identified seven priority focus areas, “Strategy”, “Capital”, “Growth”, “Operations”, “Technology”, “Work”, and “Society", within which companies and leaders must demonstrate resilience. Our special report “Emerging Stronger” outlines a “resilient organization playbook”, covering specific mandates for each one of the top seven priorities per C-suite role, to be orchestrated by the CEO so that corporations may transform into resilient organizations and thrive in the new normal.