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Coronavirus' business impact: Evolving perspective

Coronavirus' business impact: Evolving perspective
COVID-19: Briefing note #48, March 31, 2021 Special Report COVID-19: Facts and Insights, October 30 It’s year two of the COVID-19 crisis. What comes next? One year ago this month, WHO declared a global pandemic. Public health is still the chief concern. We strive to provide individuals with disabilities equal access to our website. New US COVID-19 cases rose sharply in late 2020 and, until recently, declined nearly as steeply during the first few months of 2021. The global economy has rebounded from the lows of 2020 (stock markets have too, though in different ways), but its future direction is hazy, even by the standards of economic forecasting. Productivity has long been a weak spot in global growth, but the crisis might have kick-started a rise in productivity. How do companies find the extra gear needed for a sustained burst in productivity? Also this week: The McKinsey Podcast listened in on the postpandemic state of fashion (it’s sweatpants today, but tomorrow will be different).

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The ancient computers in the Boeing 737 Max are holding up a fix AA brand-new Boeing 737 Max gets built in just nine days. In that time, a team of 12,000 people turns a loose assemblage of parts into a finished $120 million airplane with some truly cutting-edge technology: winglets based on ones designed by NASA, engines that feature the world’s first one-piece carbon-fiber fan blades, and computers with the same processing power as, uh, the Super Nintendo. The Max has been grounded since March 2019, after some badly written software caused two crashes that killed 346 people. How to Cope When Everything Keeps Changing How do you make plans when it’s impossible to make plans? The ground beneath our feet is constantly shifting. Planning for anything more than a week out can feel futile — almost silly — since no one knows what the next week, much less the next month, will bring.

How to Design a Strategy Execution Plan (Part 2 of our series on organizational strategy, “How to Design a Strategy Execution Plan” is also available as a webinar with expanded content. Part 1 of this series, “Overcome Strategy Failure: Three Principles to Bring Your Strategy to Life” explains why 80% of launched strategies fail and presents three powerful principles to help you successfully implement your strategy.) Making change happen is a monumental task.

Welcome to the ‘she-session.’ Why this recession is different In 2009 Trish Hennessy and Armine Yalnizyan coined the term “he-cession” in Canada. Men were clearly bearing the brunt of the recession triggered by the 2008 financial crisis, they noted in a paper for the Canadian Centre for Policy Alternatives. The downturn had hit the manufacturing sector hard, especially in Ontario, with more than 70 per cent of the unemployed made up of male workers, they noted. The future of the office - Covid-19 has forced a radical shift in working habits Editor’s note: Some of our covid-19 coverage is free for readers of The Economist Today, our daily newsletter. For more stories and our pandemic tracker, see our hub SELF-STYLED visionaries and people particularly fond of their pyjamas have for decades been arguing that a lot of work done in large shared offices could better be done at home. With covid-19 their ideas were put to the test in a huge if not randomised trial. The preliminary results are now in: yes, a lot of work can be done at home; and what is more, many people seem to prefer doing it there. This does not, in itself, mean the end of the non-home office.

What Really Makes Us Resilient? Executive Summary What is resilience, and how can each of us cultivate it in our own lives? The ADP Research Institute conducted two field studies. The first identified the sources of resilience, pinpointing the best questions to measure it, and providing specific prescriptions to increase resilience in yourself and those you lead. The second, a global study of resilience around the world, measured aspects of resilience among 25,000 working adults from 25 different countries. Impacts that might change the world in the coming years A world remade Health care workers and researchers are on the front lines fighting COVID-19, hoping to slow the spread of the disease and care for the sick. Normal life has stopped for well over a billion people around the world. While models and predictions abound, no one can say with certainty what the course of the virus will be, much less the impact the pandemic will have on people and societies. Eventually, though, the crisis will end, and life will return to “normal.”

'My company has gone fully remote and I'm despairing': who wins in the new world of working from home? I am 20 minutes into my scheduled 30-minute call with Shivani Maitra when I start to freeze. Maitra, a partner at global consultancy firm Deloitte, is leading the firm’s post-Covid-19 research into the future of work, and is giving me a seamless analysis of what business is about to look like: more autonomy, more remote work, happier workers, more accessible leadership – all facilitated by technology. But I can’t get Skype for Business to function. It’s a hot day and the connection comes and goes, leaving me contorted and sweating over my laptop. 6 Principles to Embrace Resilience and Responsiveness 2020 has tested us over and over again. As a talent development leader at the Urban Institute, I have had to pivot and readjust our strategic plans so many times that I no longer remember where I started the year. Before we transitioned to full-time remote work, speculation was rampant about what would or wouldn’t happen or even the contagiousness of this new virus. There was so much information, disbelief, and speculation. How could we know what was true? Yet even before our leadership team announced the need to conduct tests on our ability to work remotely, I already had prepared a virtual transformation plan.

Derisking digital and analytics transformations A bank was in the midst of a digital transformation, and the early stages were going well. It had successfully transformed its development teams into agile squads, and leaders were thrilled with the resulting speed and productivity gains. But within weeks, leadership discovered that the software developers had been taking a process shortcut that left customer usernames and passwords vulnerable to being hacked. The transformation team fixed the issue, but then the bank experienced another kind of hack, which compromised the security of customer data.

Managing the human and business impact of coronavirus The global COVID-19 pandemic has forever changed our experiences―as customers, employees, citizens, humans―and our attitudes and behaviors are changing as a result. Once the immediate threat of the virus has passed, what will have changed in the way we think and behave, and how will that affect the way we design, communicate, build and run the experiences that people need and want? The answers to these questions will be revealed in the ways people and businesses react and find innovative ways to rise above these challenging times. In consumer goods, this crisis is fundamentally changing how and what consumers buy and is accelerating immense structural changes in the industry, for example.

Tracking the COVID-19 economy - Atlantic Council China is experiencing an incredible Q2 economic rebound while the other 5 largest economies suffer historic downturns. This ‘fractured recovery’ puts enormous stress on supply chains and the global trading system. Can the rest of the world match China’s rebound in Q3? This is the most pressing question in the global economy today. Note: All these graphs are interactive. Workplace Resilience Study September 08, 2020 | 20 min Dr. Mary Hayes, Dr. Frances Chumney, Marcus Buckingham Share this

MIT Sloan Management Review Topics Frontiers An MIT SMR initiative exploring how technology is reshaping the practice of management. See All Articles in This Section Already a member?