Covid-19 has exposed many cracks in organizations who have failed to be flexible and agile. Organisations who adapt quickly to the changes will not only survive, they will emerge stronger with better processes, and a better understanding of what makes them successful.
Our Academy partner Kim Seeling Smith, has outlined the key phases from disruption to recovery. How leaders act in each of these phases will determine how successful they are at recovering from economic shock and whether they will fail or thrive.
From the Article:
Explanation of Phases and Time Frames
The phases and timeframes, as they relate to COVID-19, are:
- Security which began in mid-March was prevalent for the first two weeks and is gradually tapering off as organisations move fully into the Survival phase.
- Survival started almost immediately after the Security phase. The need for survival initially increases, then begins to taper off as a ‘New Normal’ comes into focus. We expect this phase to last four to six months, potentially longer depending on the rate of infections and how governments proceed with opening the economy up again. Many organisations and leaders are now firmly entrenched in the Survival phase.
- Pre-Recovery begins after an organisation or leader feels confident they will survive the short to mid-term. The earlier organisations and leaders enter the Pre-Recovery phase, the better positioned they will be for eventual recovery. Many organisations and leaders skip this phase, thinking that the recovery will take care of itself. Those who do may suffer severe consequences at the hand of those who prepare well and can adapt to the New Normal.
- Recovery occurs when the New Normal begins to settle and can be defined with an amount of certainty.
Get the full article online: How to Ride the Waves from Disruption to Recovery.