As we enter into the new month of August, companies all across this country are focused on cash management. They grasp the notion of “no money, no mission” and want to make sure they have enough resources in the bank to deal with whatever might come next.
Others are rethinking their growth targets and focused on maintaining their core business. They want their well established brand identity to not be damaged during these turbulent times. They want to survive this global pandemic but also have the company well positioned to thrive in the aftermath.
But a few hardy souls in the world of leadership are now willing to flex their intellectual muscles and engage in some in-depth scenario based planning. They want to grapple with a few possible scenarios and explore how the company will move through them. By doing this work in advance, they are better prepared if this possible reality happenings.
Here is one scenario more and more senior leadership teams are exploring right now.
First, starting in the middle to late September through to December, health officials all across the country advise people to get their annual flu shots. They remind the general public that the annual flu is a serious, and at times life-threatening illness. By getting vaccinated they are preventing the transmission of the flu to others and reducing the impact in their own lives.
Simultaneously, many infectious disease experts point out that there is a very high probability that a second round of COVID-19 will occur through out the globe this coming winter. They encourage us to be better prepared and to not ignore this second round.
If this coming flu season is especially virulent and COVID-19 returns or continues with a vengeance before there are adequate testing options and a vaccine, how should your company prepare and respond to this situation?
A tabletop exercise like the above tests the organization’s ability to be resilient in the face of a crisis. It also will determine if the lessons learned from this past spring and summer have been captured and effectively integrated into the systems, culture and strategy of the company. Finally, it is an opportunity to determine if there is a failure in one part of the company, whether or not it will metastasize and threaten the whole of the company. By proactively addressing realistic probabilities, we create the capacity for better preparedness, response and recovery activities.
Given what we know this month, now is the time to be prepared. Let’s not be surprised anymore by unforeseen possibilities.
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