These are difficult times for businesses, the challenges we face are changing day-by-day. We have to believe in our ability to prevail and come out the other side of this. Some will be weakened, most will be changed but some will come back stronger.
So, how can your business navigate this uncharted territory and what can it do to ensure it can prevail and come back stronger?
Firstly, you need fortitude in the face of adversity. Find the strength to stand firm and fight for your business. This comes before any strategy. Fortitude gives you the strength to take a step back, survey the situation and make informed decisions. It helps you to focus and activate without fear. Remember, strength does not come from a single person, in the most challenging of circumstances you need a team that will pull together. By combining mutual support, fresh ideas, cross-functional skills and abilities you have the resources to come back stronger.
Assuming you have established a cross-functional team what are the primary strategic considerations?
- Map out processes and critical milestones
- Assign actions and responsibilities
- Develop or update your communications strategy and crisis management plan
- Instigate meeting cadence to co-ordinate actions and feedback loops
- Evaluate financial and supply-chain implications
- Assess exposure to third-party technology providers and support services
- Identify strategic interventions and be responsive to changes
- Stay informed via WHO or local health advisory services
- Source updates from trusted business associations such as Dublin Chamber and support bodies like Enterprise Ireland
- Keep abreast of national government initiatives and business supports whether in Ireland, the UK or USA
- Work from robust, verified data
- Review and amend your strategy frequently.
Use this Time Wisely
Despite the extraordinary circumstances which are still unfolding. Businesses will reach a form of stability and will have to look to the future. Most will need to transform radically if they are to survive. For many this means accelerating their digital transformation to enable their business to function. While technical teams are in and digitisation projects may be underway how can they be accelerated or instigated with so many employees now working remotely?
Finding a workaround which is both viable in the short-term and and adds significant value to the business long-term is possible. Train hard. Remote working actually gifts business the opportunity to radically transform their workforce. Using a training programme to transform non-technical workers into technical roles rather than loosing this talent makes business stronger. It also helps business build a strong internal mobility strategy which will accelerate and enhance their digital transformation process. This in turn will result in better digital products and a technically competent workforce and ultimately, better customer journey.
Train hard and come back stronger.
Download our white paper to find out how an internal mobility strategy enables business to succeed in digital transformation.