What might life be like after the crisis passes, and what will it take to thrive in a world remade?
This report explores four possible scenarios that suggest a range of possible outcomes as the COVID-19 crisis evolves. It is too soon to tell which of these or other scenarios will emerge, but resilient leaders are preparing now for what the future may hold.
Download the report here.
Harvard Business School
Now that people have been working from home for a few weeks, leaders need to hold a “working from home” relaunch to help their teams learn to reorient based on the new realities. Team leaders should focus on four key areas:
- Revisit your shared purpose. A relaunch ensures that every team member understands and buys into the clear and specific goals that the team has been mobilised to accomplish.
- Reassess available resources. The relaunch is a time to re-examine information, budgetary resources, and networks that will help the team advance its goals.
- Understand members’ constraints. A relaunch is an ideal opportunity for each member to discuss their respective roles and how they have been contributing to team goals. Team members should be candid about how the work-from-home format has affected their productivity.
- Re-establish norms. Most important, the relaunch is the time for team members to re-evaluate how to conduct themselves and interact amid the changing circumstances. Topics for discussion should include how often team members should connect virtually during the week, and with what digital tools.
CFOs: doing more with less
CFOs must figure out how to do more with less as they navigate their many responsibilities. This article, focusing on the challenges faced by CFOs in the banking sector, recommends that the effort to reduce costs should involve an assessment of the finance function in terms of three different pillars:
- Review of the finance target operating model
- Review of the finance IT landscape
- Optimisation and automation of processes - automation is the basis for a sound finance function
Read more here.
The COVID-19 recovery will be digital: a plan for the first 90 days
McKinsey & Company
A CEO of a large tech company recently stated, “We are witnessing what will surely be remembered as a historic deployment of remote work and digital access to services across every domain.”
Here are suggestions for a 90 day plan to implement a digital strategy for the recovery and beyond. It focuses on four efforts: refocusing and accelerating digital investments in response to evolving customer needs, using new data and AI to improve business operations, selectively modernising technology capabilities to boost development velocity, and increasing organisational agility to deliver more quickly. For each one, a practical 90-day plan to make it happen is provided.
Read more here.