By Andrew C. Jackson
While watching a webinar the other day, a presenter made a comment that caught my attention. He said, “this pandemic is not just a tsunami…it’s climate change!”
As a business owner and manager, that line got me thinking. The presenter was making the point that some, perhaps many, of the changes we’re going through as a result of the pandemic may not be temporary. Yes, there will be a recovery, but COVID-19 will have lasting effects on our businesses and the economy – some of which may be permanent.
This means that we are not just tasked with weathering the current storm — we are charged with adapting to a new normal that is not yet fully defined. What are we doing now to ensure that we are agile and responsive enough to grow and prosper in the future? Are we looking at this as systemic change versus just an event?
I do have confidence that in time, vaccines and therapeutics will mitigate the threat of life-threatening illness due to this virus. At the same time, some aspects of how we work and do business are being forever changed. The changes will differ for every business, but a few examples are:
- Managing remote teams: How will we manage, motivate and enable the success of workers who do not return to an office environment?
- Supply chains: What have we done to shorten, strengthen and increase their effectiveness? What weaknesses were revealed that need to be corrected?
- Customers: What have we done to make their access, engagement and level of experience better and on their desired terms?
- The business: Have we accurately allocated for and forecasted sales and cash flows, and have we built in resilience for a fluctuating economy?
- Technology: How are we ensuring that we have the right tools to run an efficient operation and serve customers – anytime and anywhere?
These are just a few areas to consider. The pandemic is more than a bump in the road – it is forcing us to reevaluate, retool and improve. What are you doing to take your business to the next level? If you would like to share your idea on this topic, contact me at [email protected].
