Preparing for the next ________?
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The document discusses key lessons learned from the COVID-19 pandemic and ongoing uncertainties. It emphasizes that preparing for future crises requires prioritizing people, culture, and resilience. Organizations need to embrace agility, technology, and interconnection to adapt quickly to changing situations. Leaders must build trust, transparency, and flexibility to inspire their teams during uncertain times. Overall, the document stresses using past crises like COVID-19 as opportunities to strengthen preparations for future uncertainties.
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Preparing for the next ________?
- 1. Preparing for the next ________? Tathagat Varma VP Strategy, Walmart Global Tech PhD Scholar (EFPM), Indian School of Business
- 2. Disclaimer! These are my personal views!
- 3. How does the post-pandemic world look like? • Not very different from when it started! The uncertainty is still there, just the events, names and places have changed. • We now have military conflicts, the great resignation, monkeypox, inflation, crypto winter, …and fears of an imminent recession! • Are we better prepared for this post-pandemic world? Are we prepared for the next ________? What have we learnt from this edition?
- 5. People, Teams, Culture • It’s all about people, people and people! • We crave social connections. Especially at workplace! • Humans are incredibly resilient. But only when taken care of. • We can adapt extremely fast, but only when given the flexibility to do so. • Peacetime investments help build great teams for wartime. • Great cultures are antifragile. They grow stronger during a crisis!
- 6. Management, Leadership Stay humble! Be grateful! Expect even more uncertainty, more dynamic changes, and more tougher decisions. Don’t be afraid to act on evolving situation but be open-minded to revise your decisions in real-time as better information gets available. Learn to lead with trust, respect, empathy, kindness and compassion for people. Understand that everyone is going through different ups/downs in life. The new term for management is “caring”. Craft a stronger purpose with a deeper connect with your teams. The new term for leading is “inspiring”.
- 7. Organization, Business, Strategy • There is no such thing as a “low probability event” anymore! No one can predict or avoid “black swan” events. Prepare for the worst and hope for the best. • Agility is the new strategy. Proactively hone business agility by continuously experimenting for newer sources of value creation. Especially when you are riding high on successes! • Embrace tech to make your people work smarter, delight your customers, and deliver superior value. Every business is a tech business. • We are all connected. There’s no such thing as “it’s not my problem!” Understand systems thinking, and recognize the nature of complex systems.
- 8. What can you do? Individual: keep upskilling yourself, challenge the status quo and push the envelope by taking “risky” initiatives, and support your peers Manager: listen to your people, remove roadblocks, give them tools they want, optimize processes for speed and agility Leader: build a culture of trust, transparency and openness, lead bottom-up
- 9. Recap • The Great Reset or The Great Accelerator? The Great Resignation or The Great Feedback – you decide what lens you want to use! • Black swan events don’t come with a user manual. Your ability to deal with the next one will depend more on what you do today and tomorrow vs what you do when it strikes. • Every individual in the family, every role in the society and every function in the economy is equally important. Period. • Don’t waste a crisis! It is your best chance to prepare for the next one…
- 10. References • https://home.kpmg/cz/en/home/insights/2021/11/the-lessons-learned-from-covid-part-one.html • https://www.forbes.com/sites/forbesbusinesscouncil/2021/06/29/five-business-lessons-learned-during-the- pandemic-on-resiliency-and-strength/?sh=15aa1ad04c75 • https://www.mckinsey.com/business-functions/people-and-organizational-performance/our- insights/return-as-a-muscle-how-lessons-from-covid-19-can-shape-a-robust-operating-model-for-hybrid- and-beyond • https://www2.deloitte.com/global/en/blog/responsible-business-blog/2020/five-lessons-learned-from- covid-19-recovery.html • https://www.weforum.org/agenda/2021/01/7-things-leaders-can-learn-from-the-covid-19-crisis/ • https://www.undp.org/blog/six-leadership-lessons-covid-19 • https://www.weforum.org/agenda/2020/06/covid-homeworking-symptom-of-changing-face-of- workforce-management/ • https://www.forbes.com/sites/worldeconomicforum/2021/03/01/post-pandemic-leadership-how- managing-a-business-is-changing-in-times-of-covid-19/?sh=46b8b8176523 • https://www.techrepublic.com/article/6-business-lessons-learned-as-a-result-of-covid-19/ • https://www.cio.com/article/307666/the-pandemic-pivot-5-key-leadership-lessons-that-will-last.html • https://www.bain.com/insights/supply-chain-lessons-from-covid-19/ • https://www.ted.com/talks/patty_mccord_4_lessons_the_pandemic_taught_us_about_work_life_and_bala nce