![]() Any business with a fixed cost that relies on foot traffic will come under pressure. Huge segments of the economy have shut down: travel, hospitality, restaurants. If you’re a CEO who can’t quickly bias yourself for action, and if you wait around for someone to tell you what to do, then your investors, or more likely the market, will make those decisions for you. ![]() Even with imperfect information, the future of your company depends on your ability to make rapid decisions and start acting. ![]() This is not the time for committees, study groups, or widespread consensus building. Notice that the word speed appears twice. Survival = (speed of your understanding of the situation) x (the magnitude of the pivots/cuts/lifeboat choices you make) x (the speed of your time to make those changes) Your company’s survival in this downturn can be captured in a simple formula. So here’s a five-day playbook to help CEOs of cash-flow negative companies, or ones about to go negative, assess the new normal and respond with speed and urgency. We’re in uncharted territory with the Covid-19 pandemic.Ĭompanies that outlast this crisis will have CEOs who can rapidly assess these new circumstances, recognize new patterns and opportunities, and act with urgency to take immediate action to pivot and restructure their companies. To get all of HBR’s content delivered to your inbox, sign up for the Daily Alert newsletter. In these difficult times, we’ve made a number of our coronavirus articles free for all readers.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |