Enterprise resiliency: nine areas of focus for COVID-19 crisis management

By: Trademagazin Date: 2020. 05. 18. 10:04

The global spread of COVID-19 is a humanitarian crisis, first and foremost. But it’s added yet another layer of disruption to the growing list of unexpected challenges facing leaders and impacting business performance.

Fundamentally, the pandemic is a test of your company’s resilience. Responding requires a structured approach to crisis management, headed by a team coordinating everything from internal and external communication to risk assessment, management and mitigation. The problem? It’s tough to be methodical when everything is changing by the day.

That’s why it’s crucial to have a map for navigating uncertainty and complexity. We’ve identified nine areas enterprises can address to assist business continuity now, build resilience for what’s next, and help reframe your future for what comes beyond the pandemic. When considering these issues, we recommend you always start with the people-related issues before you move onto other areas, which can be addressed in any order:

Employee health and well-being
Talent and workforce
Supply chain and global trade
Customer and brand
Financial and investor
Risk
Government and public policy
Technology and information security
Insurance and legal disputes

COVID-19 Enterprise Resilience Tool

The purpose of the tool is to help business leaders assess these nine areas. It prompts you to consider aspects which might otherwise be overlooked. It also helps provide structure in the midst of chaos. The idea is not to use it once but keep rechecking your preparedness as part of your ongoing leadership crisis meetings.

The tool is an easy, straightforward and pragmatic way to understand how resilient your business is in the face of crisis. It enables you, at a glance, to identify where you need further efforts or assistance.