As the impact of COVID-19 continues to be felt, many businesses have started their journey to recovery. But the situation is very different in some economies. As businesses have begun to reopen, the landscape has changed. Societal and political responses are trending negatively as the pandemic continues to peak – or in some areas – return.
Where they can, organizations are reinventing themselves as they reopen, taking "no regret" actions that will help them emerge stronger: becoming more digital, data-driven and in the cloud; making their operations more agile and their cost structures more variable, and delivering greater experiences for employees and customers.
Amid renewed uncertainty about the pandemic, however, assumptions companies previously used to shape scenarios and set their strategic course are now in question. Leaders are re-evaluating how the pandemic’s progress, strength or recurrence in different geographic markets impacts their recovery strategies. This means adjusting those assumptions, re-evaluating all scenarios, and strengthening their capability to predict and respond accordingly.
Now, companies must take their bearings and course correct on a continual basis against a set of potential cross-currents impeding their journey.