Corona is also an opportunity: On the way to new normal
COVID-19 has caused unprecedented disruption and will be leading to an economic recession in most of our industries.
It will impact organizations in a multitude of ways and will send most of us in survival mode for the shut down time.
It‘s not clear when, but at one stage the race will restart.
You will need to adapt to the new normal, but you will also become the chance to re-write the game and boost new ways of business.
This is the time when you will need all your hands to recover, your head to set a strategy that makes you a winner in your industry and your heart to take along your people.
And, we all will need to go beyond our organizational boundaries to create an ecosystem that makes us more resilient in the future.
Recommended short term actions in times of economic downturn
Firstly, Corona COVID-19 is a crisis of epic dimensions. Monitoring, containing and mitigating the effects of the corona virus are top priorities for everyone. Timely and decisive actions by health authorities, regulatory and supervisory authorities can help contain the virus outbreak and offset the impact of the pandemic.
Medical doctors, nurses and health professionals are doing everything to support us. So are sectors of everyday life like food-retail or connected logistics to support us with everything that we need daily.
This paper is aimed to support business leaders and clients of h&z to mitigate business risks and prepare for the economic downturn that we are facing. It is aimed to ensure business continuity, free up cash, reduce external spend and manage supply chain risk.
Optimizing Working Capital – fast and innovative levers
This paper is aimed to support business leaders and clients of h&z to optimize and reduce working capital and release cash in the short-term.
In times of COVID-19 and a looming recession, releasing cash is a priority. Failing to react will lead to losses. Working capital can partly compensate missing cash. The current crisis offers a potential to reduce working capital of up to 30%.
Getting back on track – crisis management with agile methodologies
Managing the crisis and preparing for the re-start by defining objectives, key results and individual action plans.
The use of OKRs will ensure focus, alignment and adaptability in the management of the crisis and the preparation of the re-start.
Getting back on track_Crisis management with Agile
Corona maltreats the suppliers. Aerospace expert Michael Santo in the current issue of Handelsblatt.
Aerospace: Corona maltreats the suppliers. Not only Airbus and Boeing are getting into trouble in the current crisis.
Many suppliers will only be able to hold out for a few weeks. h&z Aerospace expert Michael Santo in the current issue of Handelsblatt (25 March, 2020).
Measures to secure supply chains. A Practioner‚s Guide.
The coronavirus is increasingly influencing the supply chains of German companies. Daniel Seitz and Thomas Mrozek answer how those responsible in the supply chain can deal with this unprecedented situation of complete disruption in many areas. Both h&z partners are responsible for the h&z Supply Chain Practice.