As businesses reopen in the new normal, they need to balance between what worked before and what needs to happen to succeed.
STOP:
· Assuming that the old ways will come back.
· Relying on traditional organizational structures.
· Optimizing supply chains based on individual component cost and depending on a single supply source for critical materials.
· Quarterly earnings estimates.
· Thinking of environmental management as a compliance issue.
· Thinking of the contactless economy as something that will happen down the line.
· Seeing the return as a destination.
START:
· Thinking through how to organize work for a distributed workforce.
· Looking into practices that speed up decision-making and execution.
· Redesigning supply chains to optimize resilience and speed.
· Focusing on leadership and working with partners to create a better future.
· Considering environmental strategy as a source of resilience and competitive advantage.
· Planning how to lock in and scale the crisis-era changes.
· Imagining the business as it should be in the next normal.
ACCELERATE:
· Best practices around collaboration, flexibility, inclusion, and accountability.
· The transition to agility.
· Next-shoring and the use of advanced technologies.
· The reallocation of resources and infrastructure investment.
· Investment in innovation, partnerships, and reporting.
· The transition of digitization and automation.
· Digitization.
Businesses around the world are rapidly adapting to the new normal, not necessarily because they want to, but because they must. For those who think, and hope things will basically go back to the way they were: STOP. They will not. It is better to accept the reality that the future is not what is used to be and START to think about how to make it work.
Hope and optimism can take a hammering when times are hard. To ACCELERATE the road to recovery, leaders need to instill a spirit both of purpose and of optimism and to make the case that even an uncertain future can, with effort, be a total success.
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