Good article from Boston Consulting Group with insights you can use to help your organizations stay healthy and vibrant … even as some organizations begin to discover some “good times”.
We aren’t quite sure who first said “necessity is the mother of invention” but it certainly manifested in many ways in the past year and half. We have adapted and busted many paradigms about the way we do things. Let’s keep the focus on well-being and resilience of our spirits as we continue to navigate into the future. We’ll all be better for it.
Here’s a bit from the BCG article …
THE RESILIENT TRANSFORMATION AGENDA
The COVID-19 crisis has brought the value of corporate resilience into focus, and many leaders now seek to rebuild their organizations to be more resilient.
1. Transform with an opportunity mindset. Defensive, cost-cutting measures might produce short-term gains, but they fail to advance resilience in the long run. To build resilience—especially in the recovery stage of a crisis—corporate transformations must increase the organizational capacity for innovation and reinvention.
2. Accelerate digital transformation. Digital transformations, executed correctly, can improve resilience by increasing operational flexibility and positioning the firm to capture new growth opportunities. Operational flexibility and adaptivity are both critical capabilities in improving a company’s future recovery speeds.
3. Keep resilience on the transformation agenda in good times as well. To capture the long-term competitive benefit of resilience in a very dynamic business environment, companies must transform with resilience in mind in stable times too.
Future crises are inevitable. Companies that recognize resilience as a long-term strategic imperative and make it a pillar of corporate change will be best positioned to outperform in future crises.