After the Coronavirus – Recovery and Beyond

Businesses across the world expect economic improvements to kick-in in 2022. Social constraints may remain high but businesses have learned to adapt and are optimistic about the future. As we continue to navigate through the pandemic, businesses must move away from survival planning and plan for growth.

In order to confront challenges and capitalize on opportunities, businesses must focus on three key areas:

Focus Area Follow Through Tasks
Recovering Revenue
  • Improving Customer experiences
  • Adjusting pricing and promotions based on new data.
  • Reallocating spending to proven growth sources.
  • Reskilling the sales force to support remote selling.
  • Creating flexible payment terms.
  • Digitizing sales channels.
Rebuilding Operational Resilience
  • Reinitiate supply change to accommodate increasing sales
  • Reassess supplier mix [regionalize supply chains if possible].
  • Focus on increased workforce cross-training.
Rebuilding Organizational Resilience
  • Structure departments into small, nimble teams.
  • Empower quick decision making.
  • Match talent to the most critical challenges.
  • Focus on ‘character’, over experience.

These focus areas will allow businesses to navigate the recovery phase, and on that basis, make the “now or never” moves that need to happen before the recovery peaks.

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