Transformative Realities Brought by COVID-19
Let's face it, no one could have predicted a pandemic as historically significant as the one we are currently experiencing. COVID-19 was in no one's strategic business discussions when we started this year.
For months now, the pandemic has redefined life and business as we know it. That is why it's easy to view this current reality as a threat to our business. However, we may be forgetting that there are also nuggets of learnings we can pick up that can further strengthen our business.
Resilience should be baked in your Corporate Culture
Even before the pandemic, the rising velocity of change was already a reality. This is evident in how technology and consumer behavior have changed throughout this past decade. Those who were quick to adapt were lauded as winners. While most associate this adaptation as evidence to a culture of learning in an organization, we usually dismiss the fact that this is also a product of organizational resiliency. Rapid change brings a constant struggle to adapt. Use these past few weeks and months as a basis to gauge how resilient your organizational culture is, and determine what steps you need to take to further strengthen this aspect.
Have a Change Mindset
Change by its very nature is a funny word - depending on the situation we can either refer to it as development or disruption. It is both natural and difficult. So how can these opposing concepts mean the same thing? Simple answer... Mindset. Having a mindset of growth and gratitude allows us to transcend beyond the perils of failure and see the endless opportunities change brings. Most significant changes take a while to be felt, so having a healthy amount of optimism can go a long way.
Digitization should be an integral part of your business strategy
It used to be that questions about security, costs, and dependability were the limiting factors why businesses had to postpone transitioning business processes and technologies to go digital. However, we might need to reconsider, as this current crisis has shown us how, important digitalization plays a role in businesses in whatever industry. It doesn't need to be a massive transition but you'll need to map out which of your business processes can you afford to digitize. Take note that the more manual processes you have, the more risk of disruption due to geographic limitations such as lockdowns.
Having a Crisis Team extends your Capability to Spot Issues and Resolve Swiftly
In times of crisis, solutions are often found through collaborative intelligence; as they say, no one holds all the answers. Having a team representing all aspects of the business allows you to manage risks, plan better solutions, and execute quickly. To form a highly engaged crisis team, you'll need to rally them in one direction - each member needs to understand why they are a part of this committee. Once engaged, a regular cadence meeting with the team will help you smoke out potential issues, and unearth groundbreaking solutions.
You'll Need Experts on Deck
Your current team may not be able to provide the right knowledge and experience to tackle organizational changes. Even the best teams have gaps in experience and knowledge. Sometimes, it's best left with subject matter experts. Most companies place hiring a consultant as their last resort, and it's perfectly understandable (why pass on the problem, if you can solve it from within?). But you'll also have to consider that in a crisis such as this pandemic, most of your resources will be focused on keeping your core functions running. Hiring the right expert not only means you're also bringing in years of knowledge and experience, but also having someone to put focus and attention to solving your problems.
