The tumultuous period that we are currently going through not only threatens the survival of businesses from a fiscal perspective, but also threatens the formation of inclusive work cultures that provide the conditions necessary for optimal individual and team performance. It may seem like a million years ago at this point, but pre-COVID-19, many businesses were already struggling to form inclusive work cultures, and managers were challenged to create inclusive teams.
Are your past successes making you more susceptible to being disrupted? Does your position in the market make you a more attractive target to disrupt? Has COVID-19 given your potential disruptors time to find new ways of undermining you?
COVID-19 has caused havoc to all businesses, but that does not make it a disruption. If your business is prepared to remain resilient during a period of disruption—in hindsight, the disruptive phase may be viewed as simply an interruption.
One of the most unique things about the current COVID-19 crisis is just how universal it is. No event in history has affected every single country in the same way and at the same time. It is safe to assume even at this early stage, that an event of this magnitude could send the shock waves of disruption through every sector, every business and every product line that is trading today.
The big lesson from the current crisis is that some countries have managed this disruption better than others.