Business Response & Recovery Plan to COVID-19

A process to lead your organization through uncertainty and down the road to recovery

If your business has been hit hard by the COVID-19 pandemic, we recommend taking immediate action. Don’t “wait and see” what might transpire.

We have identified four stages you can take to proactively lead your organization through the uncertainty and down the road to recovery.

Our Core Assumptions

  • The spread of this pandemic will lead to major disruptions in almost every industry.
  • A “wait and see” approach could be destructive –prepare for the worst and hope for the best
  • No one can predict the future. A systematic and agile approach is needed.
  • Every customer and employee is experiencing some level of stress, anxiety, or fear. Strongvalues based leadership is needed
  • No business will remain the same. The disruption will create opportunities for retooling or repositioning for those that are proactive.

Road to Recovery Overview

 

1. Getting Started in the Emergency Room

Main Priority: Help your leaders and organization recognize the urgency of the times, align to secure the safety of stakeholders and stop the financial bleeding.   

Here are some activities for the “Emergency Room” stage of a crisis:

Rally Key Leaders

 Rally key leaders with a wake-up call and clear sense of urgency

 Avoid inaction and a “wait and see” approach

Key Questions to Answer:

What is a realistic picture that recognizes there is no certainty on when things will improve?

What will need to change with your communication and meeting cadence?

 

Set a Baseline

 Determine clear financial picture around cash flow, profit/loss, etc

 Identify cost cutting measures

 Determine worst case scenario for supply chain, project schedules, and other operational critical areas

Key Question to Answer:

How deep can your cuts go without inhibiting your ability to recover once stable?

 

Take Swift Decisions

 Take swift decision and action –don’t wait for perfect information

 Focus on areas of high impact and high priority

 Overcommunicate

Key Question to Answer:

What key priorities and “no regret” decisions / actions should you make quickly?

 

Establish Key Responsibilities

 Establish response teams to address critical functions

 Traditional job descriptions are put aside

 Outline daily responsibilities and reporting cycles

Key Question to Answer:

Who is the best person to take on each key responsibility?

 

>> Read Part 2: From Intensive Care to Recovery

Download the PDF Slide Deck

 

How BME Can Help:

Business Response Coaching

Help you create clarity in the uncertainty through the development of a systematic plan that ensures that you can lead your organization through the most critical moments toward a healthy recovery

Deep Dive

A facilitated deep dive with your executive team into your most pressing problem areas to help you develop a clear action plan to move you forward

Go on the Offense

Facilitated ideation sessions with your executive team to help you reimagineand restructureyour business to emerge from this global crisis in a position of strength

 

Reach out to schedule a quick call to hear how we can help you lead with clarity in this uncertainty

   

 

Photo by camilo jimenez on Unsplash

 

 

Business Response & Recovery Plan to COVID-19