We are now into week 10 of lockdown and, after the government published its recovery strategy, it’s starting to feel like we’re perhaps coming to the end of the beginning of this crisis.
Many business leaders are now also taking time to reflect on where they have reached in their response to the pandemic – in part to satisfy shareholders, investors and lenders, but also to get an understanding of how they compare to others and what the path ahead looks like.
From a strategic perspective, we can think of that journey in four phases – which can be distilled into four (almost) Rs: reaction, resilience, recovery and the new reality.
The ‘reaction’ stage epitomised those early days when organisations had to make tough decisions at speed and act to protect their employees and business – whether that was closing down, putting operations into hibernation, furloughing staff, launching contingency plans or simply trying to respond to government directives.
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