Organizations must lay the groundwork for their recoveries now.
Severe health and humanitarian crisis caused by the coronavirus pandemic, executives around the world face enormous business challenges. the collapse of customer demand, significant regulatory modifications, supply chain interruptions, unemployment, economic recession, and increased uncertainty. And like the health and humanitarian sides of the crisis, the business side needs ways to recover. The management theorist Henry Mintzberg (https://mintzberg.org) famously defined strategy as 5 Ps: plan, ploy, pattern, position, and perspective. Or adapt a framework to propose your own 5 Ps: Position, Plan, Perspective, Projects, and Preparedness.
Ad hoc responses won’t work. The coronavirus has had unprecedented impacts on the world — and the worst is yet to come.
What is your strategy during the crisis, right after the crisis and for the new normal?