PwC published analysis of ADAPT framework, how they are accelerated by COVID-19, and proposed recommendations for government and business leaders

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Adapting to a new world

PwC ADAPT Framework for COVID-19 – PwC published analysis of ADAPT framework, how they are accelerated by COVID-19, and proposed recommendations for government and business leaders

Summary:

PwC revisited their ADAPT framework of key trends transforming the world (published in 2017), analyzed how COVID-19 is accelerating them, and recommended effective response strategies for government and business leaders. Summary recommendations include:
  • ADAPT Framework – Wealth disparity (A-symmetry), technological and climate change (D-isruption), aging populations and numbers of youth approaching working age (A-ging), disparities and distrust across divides (P-olarization), and lack of trust in leaders and institutions (T-rust) are changing the way people live and work
  • COVID-19 Acceleration – COVID-19 will accelerate income inequality, the vulnerability of aging populations through insufficient healthcare systems, socializing and work through technology, and reduced trust in institutions
  • Repair Balance Sheets – Governments need to manage national costs and find strategies to accelerate business growth and development of new skills, while businesses have to solve weaker balance sheets, revenue declines, and stressed supply chains and employees
  • Rethink Practices – Countries and organizations will have to review best practices and prepare for next crisis, reimagine their futures by adapting strategies for post-COVID-19 world, including operating models, particularly in areas of material, social and environmental progress
  • Restart Operations – Companies will have to restart in more complex environment and address disruptions that will arise, either from climate change, new strains of virus, or something else, including re-designed business plans, finding startup capital, restarting supply chains, and new buyer experiences
  • Reconfigure Institutions – Healthcare, legal, education and taxation need a fundamental redesign to become more efficient, effective and could cope with ADAPT challenges
  • Reporting Accountability – Investors, regulators, employees, customers and general public will need to be transparent on data about risks to government and businesses, come up with plans to address those risks, and determine viability of plans
For more information, visit https://www.strategy-business.com/article/Adapting-to-a-new-world?gko=5b5d0
Company: PwC
Category: General management
Source:

Original publication date: May 13, 2020

Date last updated: May 27, 2020