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COVID-19 Black Swan

by Martin Royal I was discussing with a friend last week about how, in the early stages of the COVID-19 crisis, her 1,000+ strong global architecture company established a crisis management team. They established this team to explore how they would respond to the unfolding crisis. The team evolved organically as different stakeholders were brought in to understand the impact the crisis might have on different parts of the business. The team began holding, and continues to hold, daily huddles to monitor progress, projects, and deadlines and assess any changes. It was a rapid response to the unfolding crisis that allowed

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By KyoungHee Choi Let’s face it. Most entrepreneurs are struggling amid this COVID-19 pandemic shutdown. The longer it continues, the more business will be crippled by the crisis and might not be able to recover. We are facing an unprecedented storm. Everyone is faced with incredible uncertainty. While businesses are rapidly adjusting their business plans, and working to quickly adapt to a new reality, it becomes critically important to focus on defensive moves that will maintain cash flow and long-term relationships with clients. Equally as important is the need to continuously find time to innovate, rethink business models and find new opportunities that

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By Madison Hanscom For many who are still employed, difficult times will bring exhaustion. We are in a time when routines are being completely uprooted. Many individuals are essential workers, which means they are putting themselves and their families at risk by supporting our communities. These workers often are experiencing new responsibilities, changes in work hours, new stressors and sometimes compassion fatigue. Other individuals are now forced to work from home while juggling new responsibilities, caring for children during work hours, and suffering from guilt or tension if there is a dip in productivity. Just because we are living in a stressful

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By Dr. Josh Williams Leaders are ethically bound to provide a safe, secure work environment for employees. Consider these steps as we rebound into a new work reality: Provide more rotating and split shifts with onsite employees to minimize the number of people in a given space at any one time. This may include workplace re-designs to maximize social distancing. Clarify policies on social distancing, update requirements for cleaning/disinfecting work areas, increase housekeeping inspections, and reduce commonly shared items (work desks, writing instruments). Some organizations may even begin taking employees’ temperatures before, during, and after work until a vaccine is available. Policies should be

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By Brie DeLisi and Propulo team While countries like China, Italy, and now the US are struggling to contain COVID-19 – there are other countries that immediately sprang into action to avoid transmission of the virus and economic disaster. Places like Singapore, Taiwan and South Korea all went through virus outbreaks with SARS and H1N1 Swine Flu, and took the lessons learned seriously. They created crisis response systems to ensure that if another virus were to come along, they would be prepared to take action immediately. There was no “we’ll wait and see if this gets to us” response – once they

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By Kyounghee Choi As you navigate through these uncertain times, there are no perfect guides or advisors given the unexpected and uncharted crisis. Successful leaders will need to continuously explore opportunities, try them and fast fail to maximize rapid learning cycles. As leaders digest massive amounts of information through various media sources to set the course for tomorrow, there is one critical challenge. As Art Buchwald, an American columnist once said, “Television has a real problem. They have no page two.” Leaders always think about page two, that is, what happens next and how to connect the dots to find your

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