A New Era For Business

A crisis of the magnitude of the COVID-19 pandemic acts like a magnifying glass when it comes to the strengths and vulnerabilities of all businesses. The most immediate focal point is how companies respond to this unprecedented disruption: how they treat their employees, suppliers, and wider communities. Over the long run, boards and leadership teams will also have to focus on getting back to growth. As they look forward, boards, working with their leadership teams, should consider the resilience of individuals and teams. The benefits of the sudden shift to virtual ways of working, preparing boards and their executives for the VUCA era in which we will all live and work for the foreseeable future. Boards and leaders need to position their companies to survive and then thrive.