A three-step approach to evaluate how you — and your competitors — performed during the pandemic.
Companies that anticipate, recognize, and prepare for threats in advance create a cushioning advantage that mitigates the shock’s initial impact. This creates competitive opportunities, for example, by signaling stability and reliability to customers, partners, and investors. To measure Covid’s initial impact on your company, you can look at the difference between your performance pre-Covid-19 vs. in Q1 of 2020, for example.
, a tool originally developed by the U.S. military, can help you learn from periods of stress. A few elements are essential to a fruitful after-action review.To ensure that all relevant perspectives feed into the evaluation, and that lessons are disseminated broadly across the organization, it’s essential to involve all the employees who played a role in managing the Covid-19 crisis — not just senior leadership or a few frontline functions.
In the latter part of 2021, the world had stabilized enough that we decided to go through a comprehensive exercise with groups across the company to extract learnings from the previous 18 months. This culminated in a few days of discussion with key business leaders and the board, which led to a revised strategy for the recovery phase and a new roadmap with more aggressive growth ambitions.
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