Updated COVID-19 ‘new normal’ report, now covering 40 industry sectors, with in-depth review of the shape of the recession that will follow
Global Futures and Foresight
Global Futures and Foresight’s updated report on what the future will hold for business after the lock-down delivers views on 40 industry sectors, an in-depth review of the shape of the recession that will follow and includes views on work, religion and community.
David Smith, CEO at Global Futures and Foresight, will be speaking at Winmark’s upcoming Academies webinar on the 22nd May on 'How to investigate and interrogate the future' (see panel on the right).
To read the report go here.
To register for the webinar go here.
McKinsey & Company
Businesses that once mapped digital strategy in one to three-year phases must now scale their initiatives in a matter of days or weeks.
Consider how Asian banks have swiftly migrated physical channels online. How healthcare providers have moved rapidly into telehealth, insurers into self-service claims assessment, and retailers into contactless shopping and delivery.
The COVID-19 crisis seemingly provides a sudden glimpse into a future world, one in which digital has become central to every interaction, forcing both organisations and individuals further up the adoption curve almost overnight.
Now is the time to reassess digital initiatives - those that provide near-term help to employees, customers, and the broad set of stakeholders to which businesses are increasingly responsible and those that position you for a post crisis world. In this world, some things will snap back to previous form, while others will be forever changed. Playing it safe now, understandable as it might feel to do so, is often the worst option.
Companies that can simultaneously attend to and rise above the critical and day-to-day demands of their crisis response can gain unique insights to both inform their response and help ensure that their digital future is more robust coming out of COVID-19 than it was coming in. This article provides in-depth advice on how to frame and implement your digital strategy to achieve success.
Boards can guide businesses through a crisis
MIT Sloan Management Review
Companies that can respond in real time to rapidly shifting challenges while accelerating longer-term strategies will most likely stand as beacons on the battered landscape of the post crisis economy.
Boards of directors are in a unique position to help management teams achieve this balancing act - by focusing on immediate fundamentals while keeping their eyes on the horizon.
This article provides three effective practices that boards should adopt.
The first and second - understanding the situation and approving an action plan - must take place quickly in order to survive.
The third - thinking through strategic changes - is a longer-term process that must start as soon as survival is assured.
For full details read here.
Which COVID-19 data can you trust?
Harvard Business Review
Data can be an essential tool for crafting responses, allocating resources and measuring the effectiveness of interventions. However, incomplete or incorrect data can also muddy the waters, obscuring important nuances within communities and ignoring important factors such as socioeconomic realities.
Unfortunately, many sources - however well intended - do not provide the clear picture they purport to. But because technology and telecom companies have greater access to mobile device data, financial resources and data scientists than academic researchers do, their data products are being rolled out at a higher volume than high quality studies.
This article helps to guide you sort the good data from the misleading - or even misguided.
For full details read here.