Leaders across the globe are doing their best to balance what’s going on right now with their businesses and also strategizing about how they will run their companies after the Covid-19 pandemic ends. This “after” focus is echoed in a Harvard Business Review article titled “Preparing Your Business for a Post-Pandemic World” by Carsten Lund Pedersen and Thomas Ritter. Pedersen and Ritter state, “And like the health and humanitarian sides of the [Covid-19] crisis, the business side needs ways to recover. Ad hoc responses won’t work; organizations must lay the groundwork for their recoveries now.” Following the same style as management theorist Henry Mintzberg, they created the 5 Ps for business recovery as a model for businesses to transition from crisis mode to whatever the new “normal” will be for their companies. Those 5 Ps are Position, Plan, Perspective, Projects and Preparedness, and the questions they pose would be great discussion starters for you and your team over the next few weeks:
- What position can you attain during and after the pandemic?
- What is your plan for bouncing back?
- How will your culture and identity change? (Perspective)
- What new projects do you need to launch, run, and coordinate?
- How prepared are you to execute your plans and projects?