Business Response & Recovery Plan to COVID-19
A process to lead your organization through uncertainty and down the road to recovery
If your business has been hit hard by the COVID-19 pandemic, we recommend taking immediate action. Don’t “wait and see” what might transpire.
We have identified four stages you can take to proactively lead your organization through the uncertainty and down the road to recovery.
Our Core Assumptions
- The spread of this pandemic will lead to major disruptions in almost every industry.
- A “wait and see” approach could be destructive –prepare for the worst and hope for the best
- No one can predict the future. A systematic and agile approach is needed.
- Every customer and employee is experiencing some level of stress, anxiety, or fear. Strong values-based leadership is needed
- No business will remain the same. The disruption will create opportunities for retooling or repositioning for those that are proactive.
1. Getting Started in the Emergency Room
Main Priority: Help your leaders and organization recognize the urgency of the times, align to secure the safety of stakeholders and stop the financial bleeding.
Here are some activities for the “Emergency Room” stage of a crisis:
Rally Key Leaders
Rally key leaders with a wake-up call and clear sense of urgency
Avoid inaction and a “wait and see” approach
Key Questions to Answer:
What is a realistic picture that recognizes there is no certainty on when things will improve?
What will need to change with your communication and meeting cadence?
Set a Baseline
Determine clear financial picture around cash flow, profit/loss, etc
Identify cost cutting measures
Determine worst case scenario for supply chain, project schedules, and other operational critical areas
Key Question to Answer:
How deep can your cuts go without inhibiting your ability to recover once stable?
Take Swift Decisions
Take swift decision and action –don’t wait for perfect information
Focus on areas of high impact and high priority
Over-communicate
Key Question to Answer:
What key priorities and “no regret” decisions / actions should you make quickly?
Establish Key Responsibilities
Establish response teams to address critical functions
Traditional job descriptions are put aside
Outline daily responsibilities and reporting cycles
Key Question to Answer:
Who is the best person to take on each key responsibility?
>> Read Part 2: From Intensive Care to Recovery
Download the PDF Slide Deck
How BME Can Help:
Business Response Coaching
Help you create clarity in the uncertainty through the development of a systematic plan that ensures that you can lead your organization through the most critical moments toward a healthy recovery
Deep Dive
A facilitated deep dive with your executive team into your most pressing problem areas to help you develop a clear action plan to move you forward
Go on the Offense
Facilitated ideation sessions with your executive team to help you reimagine and restructure your business to emerge from this global crisis in a position of strength
Reach out to schedule a quick call to hear how we can help you lead with clarity in this uncertainty
Photo by camilo jimenez on Unsplash
