Global management consultancy Arthur D. Little (ADL) has released first learnings from global CEOs in the telecoms, transport and utility industries who delivered critical infrastructure services in Asia and Italy during the early spread of COVID-19, the company said.
The businesses through the COVID-19 crisis: First learnings from Hong Kong, Italy and Singapore Report is available free to help businesses facing the worst of COVID-19 deliver vital goods and services safely. The report urges companies to put people before short-term profits, avoid step-by-step measures, delegate authorities, intensify employee communications efforts, and work closely with governments, authorities and communities.
The report identifies five areas of focus:
Move fast, assume the worst, be comprehensive, and secure employee safety first and operational continuity next.
Be prepared to spend most of your time on employee communications, focus on positivity and morale, and listen as well as talk.
Create separate A and B teams for critical operations, support suppliers and ecosystem partners, and be innovative with cash management.
Collaborate with government and authorities, engage with unions, and support local communities.
Start realistically planning for recovery now, and take advantage of potential opportunities from the “new normal”.
The report also names key priorities for business continuity and risk management, including using digital tools to establish dynamic, sensing risk management systems across internal operations and external supply chains.