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Covid19: are you ready for the change
1.
Covid-19: Are you ready for
the change? Mohammed Abdul Awal Covid-19: Are you ready for the change?
2.
Covid-19: Are you ready for
the change? Mohammed Abdul Awal, MBA, CSCM
3.
Covid-19 • Corona pandemic
yet another - perhaps most severe - disruption in global supply chains. This is for the first time in history that manufacturing and trade being hampered for people not being able to go out to work. The impact of this pandemic literally handicapped economies even some of the giants of the world. Some analysts predict that this would cause a recession of the magnitude of great recession 1930s, if not greater. • Government and Business leaders around the world are puzzled. Closed down factories and outlets, seeking for bail-out funds, orders cancellations, lay-offs are happening all around us. Even some companies including JC Penny applied for bankruptcy. • Pay-cuts seem to be a way to survive for the businesses, perhaps in the short-term, however, some argue that this will only cause the economic recovery much harder has consumer spending will drop. • This pandemic seems to change our world we knew. The world order and politics is likely to change. Most of the businesses - large or small - will have to re-start from scratch. In order to prepare for a new world, re- designing the supply chains, even redesigning the value propositions will be required - with a renewed entrepreneurial spirit! © abdul.awal@advantedge-solutions.net
4.
How do you
re-start your business? • “Crisis moments create opportunity. Problems and crisis ignite our greatest creativity and thought leadership as it forces us to focus on things outside the norm.” – Sam Cawthorn Strategic Review: - Analyze the situation. - Perform a SWOT analysis to re-check company’s resources and capabilities - Use PESTEL to analyze external environment. - Revisit your competitive situation. - Review your value chain system. © abdul.awal@advantedge-solutions.net
5.
Strategic Review • It
is best to get some external facilitator to help you facilitate the review session – so that discussions can be more focused. • This may take several days, but the stake is high and the situation deserves the efforts attention. • It is not the time for the owner to decide unilaterally. Although some owners do not like to share information, control and decision making, but this is a question of survival and you may like to use best of your resources to support the thought process. Moreover, you would need them to take the responsibility to transform the business. So, engage them. If you are not comfortable to drive this discussion, get support from an external consultant to prepare the team and facilitate the review. © abdul.awal@advantedge-solutions.net
6.
Teamwork is important! •
Businesses with centralized decision making, controlled by top management will less likely to devise and execute a re-start strategy than professionally managed companies. Professional management teams with self-driven leaders are more likely to be able to bring together the ideas and required teamwork to drive the change through out the organization. • Get a comfortable atmosphere, for the strategic discussions, that ignite ideas and creativity. Help the team to see the big picture and how the stakes are connected. The whole team has to work as a single unit with the entrepreneurial spirit in this do or die situation. © abdul.awal@advantedge-solutions.net
7.
Input to Strategic
Review Sessions © abdul.awal@advantedge-solutions.net
8.
How do we
get there? © abdul.awal@advantedge-solutions.net
9.
Strategic Discussion © abdul.awal@advantedge-solutions.net
10.
PESTEL © abdul.awal@advantedge-solutions.net
11.
Drive Strategic Initiatives
& Change Management • Change is painful. Keep patience if you are doing this for the first time and your team is new to do this kind of strategic discussions. Mix it with breaks and fun activities and return back to discussions. • With an effective discussions, as team, make a list of strategic initiatives. Review them again in couple of days, and finalize your key strategies. • The next step would be to breakdown the strategies into key projects and initiatives to execute with a time plan. Select champions among the team to lead each of the strategic initiative. • Decide on how you are going to cascade these down to organization-wide, how the feedback shall be taken to adapt as you go along, and how the progress would be monitored. © abdul.awal@advantedge-solutions.net
12.
About AdvantEdge Our Solutions:
Team-building facilitations, off-site workshops Corporate Strategy Consulting Supply Chain Network Design and Optimization Value Stream Mapping and Optimization Compliance and Sustainability audit Implementation of Balanced Score Card and Performance Management Operations Re-structuring We work with a diverse group of affiliated resources and networks. Our team’s global experience together with deep understanding of the local perspectives, we solve complex business problems in creative and innovative ways. © abdul.awal@advantedge-solutions.net
13.
Thank You
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