In one of its most popular articles of 2020, McKinsey & Company published a guide for businesses to deal with the next coronavirus crisis.
While most businesses have a safety team in place to protect workers from COVID-19 spread, some companies are not looking forward, planning for the next unexpected crisis related to the global pandemic. McKinsey & Company, a global consulting firm, lays out practical, real-world advice for creating a forward-looking strategy.
The article offers five steps to planning ahead:
- Gain a realistic view of your starting position
- Develop scenarios for multiple versions of your future
- Establish your posture and broad direction of travel
- Determine actions and strategic moves that are robust across scenarios
- Set trigger points that drive your organization to act at the right time
Although the article was written at the start of the pandemic, it remains relevant throughout these turbulent times and guides the reader through wise ways for any business to plan for the future.
Read the full article here.