James Allen, a senior partner with Bain's Strategy practice, shares three messages from CEOs who are finding, amid their efforts to care for their people and attend to their businesses during the crisis, some inspiration for the future.
The best leaders understand that the coronavirus pandemic is a dress rehearsal for turbulence in the decades to come, that this massive disruption is a chance to build new muscles to respond to climate change and other profound disruptions. Many CEOs are also finding inspiration from the great retooling of the last century. Just as industrial companies in World War II changed their factories to produce planes and ships, CEOs today need to ensure their offerings are more relevant to their customers and their companies more resilient. And finally, this crisis has put caring back on top of the agenda—and that’s an opportunity we should take advantage of.
Here’s how CEOs are finding ways to win the battle for customer relevance and outrun extinction.
As the global pandemic deepens and the human cost of Covid-19 rises, the novel coronavirus outbreak is sending shocks through the world economy. But across industries, companies can take action now to protect their employees and customers and minimize the economic damage.