Embrace Emerging New Strategies: An Imperative to Crisis Management
The COVID-19 pandemic has launched global economic confusion; it is certain that a new economic order will emerge. In some companies, this has accelerated digital transformation; in others, it has led to process changes. Others have chosen massive implementation of virtual remote work or the creation of products that have prompted new consumer needs.
During this difficult period, other companies have reduced operations, closed or completely suspended their commercial activity by laying off or furloughing workers. This environment raises many doubts about the future. In this VUCA world, it’s necessary to understand the economic context in which we find ourselves to determine where we are going.
Will we evolve to complete a global digital transformation? Will we find a balance between the needs of the past and present? How will people choose to interact socially in the future? Enterprise awareness and understanding the current economical context are two main drivers to move forward successfully. Here are some strategic questions to keep in mind.
1. With the current global crisis, what projects should my company continue/discard? What new projects should be implemented?
All projects must be reassessed. For that to be effective, we must be fully aware of the world in which we now find ourselves. Portfolio managers and strategic business specialists must work
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