Lessons from Chinese Companies’ Response to Covid-19
Weathering the COVID-19 Crisis – Harvard Business Review published lessons learned from survey of Chinese companies as they weathered COVID-19 crisis and built more resilient businesses
Summary:
Harvard Business Review compiled lessons learned by Chinese companies during COVID-19 that organizations can learn from. These include:- Be Transparent About Challenges – Communicate and update team members on state or condition of organization, as well as priorities and principles guiding decisions
- Accelerate Move to Digital – Adopt digital solutions to better serve customers, speed up processes, address roadblocks during lockdown, and save on costs
- Re-Organize to Enhance Decision Making – Use technology to automate some decision-making, empower senior managers in strategy and policy, and frontline employees in execution according to local laws and conditions
- Identify Volunteer Opportunities – Open opportunities for employees to volunteer for social impact initiatives, which tend to create greater ownership, motivation and engagement
- Emphasize Resilience – Build resilience in employees as they go through levels of anxiety and lack of motivation, including by creating a more connected organization to help them cope
- Think Long Term – Market leaders invest in enhancing their competitive position in long-term, a step ahead from short-term response such as preserving resources
Company:
Harvard Business Review (HBR)
Categories:
Customers, relationships and channels, General management, Leadership teams, People and culture, Strategy
Source:
- Lessons from Chinese Companies’ Response to Covid-19 (Harvard Business Review)
Original publication date: June 5, 2020
Date last updated: June 24, 2020