Has Your Organization Acted on What It’s Learned in the Pandemic?
As the pandemic marks a third anniversary, business leaders around the world are eager to move on. But few companies have systematically institutionalized what they’ve learned from their Covid-19 experience to build resilience. The authors suggest a three-step approach to do so: 1) Evaluate how you — and your competitors — performed during the pandemic; 2) Extract the stories of what worked and what didn’t through an after-action review; and 3) Implement the needed capabilities identified in the after-action review.
BCG research has found that 15% of companies outperform their industry in more than 80% of crises. Berkshire Hathaway, for example, outperformed its peers in 15 out of the last 17 turbulent periods.
by Martin Reeves, Robert van der Veeken, and Adam Job via Harvard Business Review