In any given set of business conditions, company executives have to continuously make decisions. Easier in a buoyant and stable marketplace, less so when we throw in variables such as: a global pandemic, trade conflicts, digitalization, disruptive technologies or emerging markets and new challengers.
In times of fundamental change & challenge we need to hold firm to some “truths” – our “anchors” – and work from there to weather the storm.
Over the years at Pacellico, we have found the companies which are best prepared for major disruption or crisis are the ones which:
– have an intense focus on its customers & market dynamics
– have a clear strategy & documented plan how to deliver
– perform the basics well with balanced KPIs
– display good process across the enterprise
– have an engaged organisation
– understand value
They can devote more time and resources to solving that crisis as they are sure of their “anchors” and the basics of how their enterprise will perform through challenging times.
It’s encouraging to see that business resilience, business continuity & enterprise sustainability are more commonly used phrases today and are moving towards the centre of strategic thinking and executive decision making.
Unfortunately, there are no short-cuts.
Build from basics………