Pandemic Resilience and Planning for Leaders
The guiding principle for achieving business resilience is to prepare and adapt to emerging threats. To become resilient in the face of any threat, organizations must operationalize before, during, and after a business interruption.
There are significant capabilities that organizations must build as part of their resilience strategy to help thwart the disruptive events and business impacts. When created properly, resilience is a strategy that permeates all business functions and should be devised with a broad, enterprise lens.
In a time of unpredictable and muffled economic recovery, leaders face the pressing matter of reopening their businesses. To outplay the unexpected, reopening can’t mean going back to the old ways. Such a turbulent time calls for reinvention. It also allows many organizations to build the expertise they wish they’d developed before: having a strong business continuity plan, training and educating its workforce, testing for different emergency scenarios, and maintaining proper communication channels. Leaders should be more strategic when they decide to reopen their business to embark on a new journey of a broader transformation.
What Is Leadership During COVID-19?
Today’s leaders can’t ignore the role of COVID-19. It is time to learn lessons and make wise, tactical changes that will benefit a company.
The coronavirus has wildly disrupted global trade, upending production and supply chains in almost every sector. Each industry has been hit differently; for example, canceled major tech events alone account for over $1 billion in economic losses. No matter how, though, each industry has been affected.
Whether supply chain issues most touch your business, the sudden turn to remote work, or something else, your responses have to take those impacts into accounts. Today’s leadership definition isn’t “stick to the familiar” -- it’s “adapt and reinvent.”
More than half of employers are updating their emergency preparedness plans to reflect the times. This is an excellent example of good leadership. Let’s take a closer look at the company leadership do’s to adopt right now.