The COVID-19 outbreak is forcing companies to explore how they can survive while grappling with crises of mammoth proportions.
With the COVID-19 (coronavirus) outbreak has come increased global business and economic disruption and uncertainty. Analysis1 indicates that the COVID-19 outbreak will push down the full-year gross domestic product (GDP) globally from the 2.5% that was forecast in January 2020 to 0%. In this crisis management situation, companies are grappling with managing the impact of the outbreak on their ability to meet strategic goals and customer demands.
Spillovers of the COVID-19 outbreak on businesses will likely come through increased workplace regulation and travel restrictions, reduced customer spending, delayed investments, disrupted supply chains, and uncertainty in financial markets.
Below we’ve identified:
Five broad steps every business should take to deliver better outcomes in times of crisis
Ten questions to rule out crisis paralysis