‘Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning’. Wise words by Winston Churchill and as the business world looks to move forward post the imposed lockdowns around the world, Boards and Executive Teams need to influence and lead their businesses to the new way of work. A recent McKinsey & Company article highlighted the need for Boards to coach and advise its management teams and to:
· Take time to recognize how the people who depend on the business feel
· Have aspirations about the post Covid-19 world but build the resilience to make them a reality
· Strengthen capabilities to engage and work with regulators, governments and other stakeholders
· Watch out for non Covid-19 risks and make sure to carve out time to dedicate to the familiar risks of the business that have not gone away
While many challenges remain, opportunities are available for those businesses that have the right culture, strategy and leadership teams and an agility to meet the ever changing needs of the market. Relevance has to be at the core of #yourjouneyahead
‘The old way of retail has been dying for years and Covid-19 pushed it off a cliff. But a more resilient retail industry is shaping up right in front of our eyes. The future of retail is already here, it’s just hiding in plain sight’ Tien Tzuo
The word ‘retail’ could be substituted by most if not all other sectors (e.g. professional services, property, hospitality etc…).
As a business owners/leaders, what are you doing to navigate #yourjourneyahead to give your business and clients 20:20 vision?
Businesses from all sectors have faced many challenges from having to deal with changes in working practices over recent months. The results from an Upwork.com survey recently published in The Wall Street Journal highlight issues that many if not all business have faced.
The majority if not all the issues listed in terms of what have worked poorly can be associated to two key things
1) a lack of business continuity planning and:
2) poor leadership.
It is interesting, and some might say not surprising, that productivity was seen to have improved by more respondents than not. Businesses need to realise that they now find themselves in a new world that demands that they continue their journey to a new working mindset that reflects the ever changing needs of their clients and employees. Businesses simply cannot go back to any state of ‘normal’ if they want to have a tomorrow.