Maintaining business resilience during times of upheaval will require leaders to gain an organisation-wide view that includes financial, operational, commercial and communities.
We see four stages that outline the path through recovery:
Reaction. All organisations are simultaneously impacted as professional and personal lives are disrupted. Volatility and uncertainty permeate society as the primary focus is on limiting damage to lives and livelihoods as we weather the unprecedented storm.
Resilience. Controls loosen as virus spread is contained and/or a vaccination or cure is available. Consumer demand begins to return but is constrained by lost wages, investment losses and recession fears.
Recovery. Anxiety passes and hiring, investment and consumer sentiment cautiously improve. Recovery paths for organisations will vary based on ability to limit damage from the Reaction stage, length and severity of recession, post COVID-19 industry demand and willingness to adapt.
New Reality. A number of enduring shifts will remain post recovery as many learnt behaviours born out of the crisis will become central to the new normal.
Managing through the current challenges, and imbedding resilience for recovery and the new reality will be challenging, but together we can work on the answers.
The subjects below will further help you understand your business’ exposure to disruption caused by COVID-19, and could help you position your business to be more resilient.
Approaches and options available to organisations to tackle COVID-19 challenges, as well as emerging and future issues.
Meet the operational challenges created by COVID-19 impacts and set your business up for future resilience.
Maintain and protect your commercial resilience through the COVID-19 economic impacts and beyond.
Read our latest insights on business resilience in the time of COVID-19.
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