The War Room should be organized around three main objectives: Fast adaptation, Fast recovery, and Fast forward looking Even while the speed and timing of recovery is unknown, there is a need to prepare for it because this will contribute to the virtuous circle of economic recovery. Some companies are adjusting fast, and for some, it is a question of survival. Second to health and safety, companies have been focused on mitigating the immediate negative impact of the crisis. New cases are registered every day, except in China and South Korea, where cases are declining.Ĭountries are scaling up their efforts to change the course of this pandemic, enforcing social-distancing measures to prevent the spread of the coronavirus and protect our lives and health.Ĭompanies have organized themselves to first protect the health and the safety of their employees and clients, by minimizing physical interaction. The COVID-19 virus is spreading across the world, with 350,000+ cases confirmed in more than 180 countries and territories. The 5F framework (which represents five separate workstreams) allows them to organize their teams so they don’t miss any issues and can manage the various functional topics and time horizons. In addition, companies need to be ready to stage recoveries once the crisis de-escalates (ideally within the next two to five months, depending on sectors that move at different speeds).Ĭompanies risk focusing all their efforts on short-term adaptation and survival, without giving sufficient thought to their recovery plans. Beyond that, impact on demand is brutal, with companies forced to juggle major downturns and upturns for products and services. The paramount need is to secure health and safety for the workforce, clients and our societies at large. Businesses worldwide are facing unprecedented challenges from the COVID-19 pandemic.
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