At this point, the global crisis caused by COVID-19 is news to no one. The pandemic is disrupting organizations of all shapes and sizes, and creating new and unforeseen challenges for everyone. Countless industries and companies around the world are taking hits on their revenues, with many already freezing or significantly downsizing their activities. This hurts everyone, from employees to investors and shareholders, and the difficult decisions executives have had to make will have both short- and long-term impact on every aspect of their businesses.
But while the situation may seem bleak, there are concrete steps you can take which will not only keep your organization’s proverbial head above the water, but which can actually give you a competitive advantage, both now and after the crisis is over.
Before we talk about a possible solution, though, let’s first examine the problem.