Effects of COVID-19 on businesses

The COVID-19 pandemic threw a major curve ball at nearly every business strategy. Few, if any businesses, envisioned an extended slump or shutdown and there were no Plan B contingencies to retain business continuity during a crisis that covered the impact of the pandemic. Businesses learned that “on the fly” adjustments to plans are undesirable compared to laying the groundwork in advance to operate in and after a crisis.
An unforeseen crisis has occurred. Now what do we do? It was unforeseeable, so we don’t have a Plan B to fall back on. How can we operate, even survive, during a crisis?

What strategic actions can your firm take to adapt to unexpected market conditions?
What impact will the crisis have on your culture, your organizational structure and how leaders lead in the firm?
How is your firm measuring the impact of the crisis so it is better prepared next time?