Lessons for Resilience
Consider local economic strategies that account for seasonal impacts and other fluctuations to businesses
Topic:
Economic
Keywords:
Economic strategy
Content:
This may include farming and fishing sectors, tourism, conferences or industries affected by weather conditions i.e. the slowing down of construction in harsh weather. Fluctuations that were traditionally short-term may now have long-term challenges. Preparation should be made to manage change in expenses and revenues beyond the season.
Reference: Emergency Planner, Canada
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Consider recovery planning to build foundations for sustained growth
Topic:
Economic
Keywords:
Economic strategy
Content:
Consider whether to:
- Shift from central command to central orchestration. Consider the questions you should ask to anticipate and plan for the pivot from a response to a recovery-oriented position
- Monitor for signals of the economic rebound and the indicators to be tracked to provide the clearest picture of the rebound timing, and the most likely progression back to a normal economic environment
- Orchestrate and integrate cross-functional and cross enterprise. Recommended actions for companies to take during the turbulent recovery period that will be essential for long-term success
- Prepare for the "new normal". The COVID-19 crisis is likely to accelerate fundamental and structural changes that were inevitable - how can your organisation evolve to meet the challenge of the next unexpected global crisis
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