Stephen Redwood has published a series of articles that draw from his experiences over a long career in consulting to help respond to the implications of COVID-19 and build strategies for the future.
In the face of huge upheavals with the COVID-19 pandemic, companies have few reference points on which to base decisions about how their organizations need to adapt to changing circumstances. Clients have asked me for my thoughts on how to frame their thinking. It’s early days so, as Winston Churchill said, “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.”
Organization design is too often seen as a narrow set of considerations about roles and reporting relationships. This is way too reductive. The design of an organization should consider all the elements that affect how it functions. Particularly now, when so much outcome uncertainty exists, attention needs to be given to culture, metrics, and development opportunities to drive appropriate behavior change in people. From my conversations with clients and a variety of other sources, here are some early thoughts as we learn to respond to the implications of COVID-19 for how companies operate.
Included in this article:
- Planning for the future
- Redesigning processes
- Redefining leadership
- Long-term transitions
Read the full article, How will organization design be impacted by COVID-19?, on LinkedIn.
Luiz Zorzella shares key points that can help leaders evaluate and address their approach to change to ensure better outcomes.
Strategy & Value
For the past 10 years, financial services firms have publicly acknowledged that they needed to change. Chances are, your organization was one of those.
Commoditization meant a systematic erosion of margins for banks; reduction in interest rates has been challenging both interest and non-interest income sources of banks and investment firms as well as the economics of insurance; and technology has posed a constant threat of disintermediation and radical value-adding substitutes.
However, just like the proverbial frog in the heating water, most business leaders have responded incrementally – aiming at matching the pace of change they observed in the market and improving their results within the parameters of their existing business model.
The problem is that change has arrived and it does not look like we expected. While COVID-19 ravages lives, economies and markets, clients and stakeholders alike are looking at financial service firms and asking that they help them weather the storm. They are calling you to change with them.
Points covered in this article include:
- Find you calling
- Evolve and decommodotize
- Reforge your ways of working
- Take the technology plunge
Read the full article, Is this Crisis Your Strategy Crucible, on the Amquant website.