KPMG’s Strategy team has collated an initial checklist for the C-Suite as they review their business strategy and current operations. The C-Suite should critically appraise their strategic planning and operating model against the backdrop of COVID-19 and a ‘new normal’ in terms of changing customer demand and potential supply chain instability.
The primary focus should, of course, be on the health and safety of employees and their families, but C-Suite should also be cognisant of the operational and financial threat caused by potential future waves of COVID-19. Taking a long term view now will aid business resilience in the face of these future threats, and assist with delivering growth.
Is your company leadership aligned on priorities and ambitions in the current market landscape?
- Which of your markets have been most impacted during the COVID-19 crisis and have you a view on what their ‘new normal’ looks like?
- Have you revisited your go-to-market strategy including new short-term targets across traditional market segments, with a clear owner and governance in place to check on delivery?
- Have you stress tested your ability to respond to second and third pandemic waves and do you understand compound impacts on market structure, competition, and purchasing dynamics?
Proposition & brands
Is the market clear on your brand offering and what you are producing given pandemic constraints?
- Have you responded in an agile way including reconfiguration of product offerings (i.e. prioritised SKUs) and targeted promotion for core products?
- Are you collaborating with stakeholders to optimise a collective response to changing customer demands including new pricing and flexible payment terms across the value chain?
- As you consolidate production and focus on meeting market needs, have you reshared the company purpose and focus with employees? It is important they are aligned on priorities, and believe in them.
Sales & customer relationships
Have you taken measure of your sales response and how you can work with customers in the pandemic?
- Has the crisis given you a different view on the weakest points in your sales network, and your overall ability to manage unpredictability?
- As you work on achieving stability and planning for future regrowth, do you know where your organisation is relative to historic best quartile players across sales channel effectiveness?
- Are you building more meaningful relationships with customers through open collaboration and joint problem solving?
Get in touch
If you have any related questions or need further information about KPMG’s response to COVID-19, please get in touch with our Strategy team for assistance.
We are Ireland’s largest business strategy group with experience across distressed, turnaround and growth support and we’re here to help you navigate the ‘new normal’.