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Mobilize your crisis response
Here's how to shore up your company's response in the wake of the coronavirus crisis
Critical information on COVID-19 and the related impacts on global business activity are difficult to assess and can change overnight. But we all need to structure responses that are capable of managing the work now and in the months ahead. Here's how US companies can focus their efforts:
Crisis response and recovery
Develop today’s response to help your business to thrive tomorrow
- Create a dedicated cross-functional crisis team with senior-level oversight.
- Gather facts accurately and quickly and use them to inform your response strategy.
- Craft an authentic communications strategy that addresses all stakeholders - internal and external.
- Create space to scan the longer-term horizon.
Workforce considerations
Keep your employees safe, engaged and productive
- Help employees stay safe and healthy, whether at work or at home.
- Lead with responsive, empathetic communications and policies.
- Maintain the continuity of work by providing employees the resources and support they need to be productive.
- Align workforce planning with your business strategy so you’ll be ready to ramp up in a recovery.
Operations and supply chain
Set the foundation for proactive resilience
- Understand how other global leaders are responding.
- Conduct scenario planning to assess mid-term implications.
- Focus on supply chain visibility and modeling new risks and costs.
Finance and liquidity
Manage cash pressures
- Establish a robust short-term cash flow forecast and run multiple scenarios.
- Stand up a central point of control, visibility and communications.
- Develop contingency plans for accounting operations workforce.
Tax, trade and regulation
Know the downstream tax, trade and regulatory implications
- Understand the CARES act and its implications for your business
- Reprioritize your tax agenda
- Focus on global mobility matters
- Analyze potential trade and customs issues, including compliance and regulatory obligations
Strategy and brand
Start looking ahead
- Detect your industry’s patterns early and ask questions that can help you adjust your strategy
- Look to company culture and new ways of working, including digital acceleration
- Take a pulse of your customers to determine potential changes to core markets or business models
What does returning to the workplace look like for your industry?
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