Effectively meeting the unique challenges posed by the coronavirus crisis will require companies to plan bold new strategies.
Many countries have had to shutdown due to the Coronavirus, but thankfully the situation is loosening up now. It is time for the economies to start up again and companies should focus on how to proceed after the crisis. Here you can find some tips to create your strategy.
1) Now is the time to get into action
During the crisis it was important to ensure to stay solvent. Now it is time to make changes, not to simply wait and fall back into old habits.
2) Where is my company standing now
Before figuring out a strategy and making decisions it is important to ask yourself where your company is standing right now. What resources, possibilities and competencies do you have? How is your surrounding coping with the situation?
3) Analyze change
Now it is important to analyze (possible) changes. It is important to look at changes which have happened within your organization, for example remote working or change in product, but also outside of your company, such as change in your supply chain or possible insolvencies of partners or customers.
4) How to react
Figure out your options and possibilities. What does this change mean for your organization and what are possible positive outcomes? It helps to be creative to find new opportunities.
5) Hire external Consultants
In order to come up with new strategies, it can be very helpful to work with a neutral Consultant who can work on strategies but also moderate workshops or give directions in a difficult discussions.
6) Set goals
Now it is important to set and implement goals. Please keep your liquidity in mind when doing this.
7) Implement measures
The last step is to implement the measures which have been set. While doing this it is important to make sure to not fall back into old habits and really try to use the crisis as a chance to create something better.