Rethink to Respond, Reset, and Renew your business

Most organizations will pass through three phases as they recover from the impacts of the COVID-19 pandemic. Typically, organizations will be in Respond mode for the first three to six months, with an absolute focus on business continuity and getting back into control – enabling employees to work remotely and customers to continue to access goods and services from home, while maintaining core operations. 

Already, we‘re seeing many of our clients move beyond this phase to adopt a Reset mindset. They’re using the current global disruption as an opportunity to reconfigure their operating models to be more modular and scalable, and to rapidly iterate their product portfolios in response to changing market demands. 

Over the course of the coming 12 to 18 months, we expect organizations will increasingly shift their attention to how they can Renew and grow and position for the future. Business model innovation will be mobilized through experiments actively sponsored by the C-suite, while emerging technologies will help organizations drive increased efficiencies and differentiation in the market. 

Throughout these three phases, we encourage our clients to focus on five priorities to rethink how they do business:

• Cost Containment and Optimization – Immediately reduce operational costs, moving to a scalable cost model and freeing up capital to accelerate growth opportunities.
• Talent Agility – Empower your employees to respond to external changes efficiently and nimbly, while evolving to an optimal balance of staff, third parties and automation. 
• A Resilient Core – Protect the core operations of your business and build a resilient and scalable operation that is flexible for the future.
• Customer Care and Operations – Continue to be able to support the changing needs of your customers and create a capability to support new channels to market over time.
• Products and Services – Rapidly respond to changes that affect your product portfolio to minimize disruptions and anticipate how products and services will evolve in the near and longer term.

Regardless, you can be sure the path ahead won’t be linear, so you’ll need to activate the full capabilities of your organization – both digital and human – to unlock operational efficiencies and create new revenue streams in response to changing market dynamics.

At Fpzsgroup, we’ve identified a list of factors to consider in these five areas at each stage of Respond, Reset and Renew. I invite you to contact us.