Deloitte shared resilient leaders’ guide to business recovery from COVID-19, which considers four scenarios and new social contracts

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The essence of resilient leadership: Business recovery from COVID-19

Driving Business Recovery – Deloitte shared resilient leaders' guide to business recovery from COVID-19, which considers four scenarios and new social contracts

Summary:

Deloitte shared how resilient leaders can ready their organizations for business recovery coming from COVID-19 outbreak. Some recommendations include:
  • Shift Focus from Today to Tomorrow – Renew organization focus from dealing with unpredictable to envisioning desired end for recovery, as well as shifting from internal processes to stakeholder outcomes, and from contingencies to long-term scenarios
  • Be Aware of New Social Contracts – Including emphasis on remote work, work/life balance, job fluidity, employee well-being, changes in business/government roles, and shifts in customer behavior
  • Build and Retain Trust – Understand dimensions of trust and build trusting relationships with stakeholders, such as implementing health protocols and preserving jobs when possible, as well as tightening data security for customers
  • Anticipate Desired Outcome – Develop vision of success outcomes at end of recovery, determine actions to be taken immediately, while sensing right time to pivot to recovery
  • Prepare for Four Scenarios – Deloitte U.S. and Salesforce identified them as affected small and medium businesses as well as lower to middle income class, large companies launching solutions to COVID-19, Asian countries taking lead in effective response, and potential for prolonged pandemic period leading to territorial isolation, shorter supply chains and increased surveillance
  • Answer Strategic Questions – Answer key questions related to revenue recovery and growth, margins and profitability, assets and liquidity optimization, digital transformation, and workforce operations for recovery phase
To read article, visit https://www2.deloitte.com/global/en/insights/economy/covid-19/guide-to-organizational-recovery-for-senior-executives-heart-of-resilient-leadership.html
Company: Deloitte
Categories: Cash flow and financial management, Customers, relationships and channels, People and culture, Strategy, Supply chains

Original publication date: April 22, 2020

Date last updated: June 8, 2020