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  COMMUNITY ARTICLE

Ways of Working in a Crisis

The global spread of COVID-19 has forced many businesses into crisis mode. How they respond over these first chaotic weeks will determine whether they survive. Pivoting to cash, flipping their organisational structure and thinking innovatively about staffing may all prove critical. Criticaleye reports on the crucial steps leaders have taken.

Featuring Commentary From:

Roger Bayly, Managing Director, Alvarez and Marsal: Take action quickly to reduce the cash burn rate – the more cash you can get around you earlier, the more options you have down the line.

Julian Goldsmith, Senior Relationship Manager, Criticaleye: Find a way to give yourself space to think, reflect and plan how to bounce back in the crucial recovery phase. Key to this will be drawing upon the learnings and experiences of others.

Dariusz Kucz, NED, PZ Cussons: You need to have a good crisis manager with their own team, and they need to report to the CEO and the execs. The CEO should not be the crisis manager.

Lorna Rose, Managing Director (Central), Barchester Healthcare: Our HR director is talking to other HR directors… and looking at the opportunity for staff with transferable skills to come across.

Catriona Schmolke, SVP Operational Centres of Excellence, Jacobs: When scenario planning, what you don’t need is people who say, ‘This is all going to get better’ – that will distract you from challenging each other.
 
 
 
 

Community articles are produced directly by and for the Criticaleye Community.






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Author

Emma Carroll
Senior Editor
Criticaleye

Related Experts

Roger Bayly
Managing Director
Alvarez & Marsal





Other Insights Contributed by the Authors:

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Are you ‘Ready to Run?’ Surviving the Cash Crunch The Impact of COVID-19 Benchmarking Responses to COVID-19 The Shape of Retail True Transformation From the Inside Out Who Will They Target Next? Powering Digital Transformations with Data Activist Investors in Europe: Who Will They Target Next? Corporate Leadership in Disruptive Times Protect Deal Value with Effective Transition Service Agreements Shareholder Activism: A Survival Plan  Brexit: Relocation Challenges for Financial Services Firms Duty to Report on Payment Practices and Performance Fuelling Sustainable Growth What Makes Companies Vulnerable to Attacks from Activist Investors? Corporate Targets for Shareholder Activists in Europe Boards in Challenging Times The Impact of Brexit on the UK Food Sector Leading Large-Scale Transformation

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