How should business leaders adapt during COVID-19?

Leading during a crisis. With organizations keeping up with the ‘new normal’, the current pandemic has certainly changed the way we live our daily lives. How does one lead effectively with the many disruptions in one’s routine?

The  will not change because of COVID. But leaders do need to prioritize certain things. Here are 4 short advice on how to lead better in a crisis:

1. Focus on the Core: Prioritize People

Leading online certainly has its downsides, especially in terms of engagement. To make up for the long-distance, have a closer engagement more often with your employees. This can be in the form of weekly “checks” with your team or creating a platform that exists as a “team space” where all employees can virtually check-in for a sharing session to help with their wellbeing. When necessary, mobilize an emergency response team that defines COVID protocols and ensure the wellness of employees.

Prioritizing what your company does best is also especially important during a crisis. So at times like this, focus on your core; not only your core employees but also core customers. Engage and be connected with them. During this uncertain time, you need to actively communicate important changes that would affect them and reassure their main worries surrounding your company.

2. Project Optimism to People

This point cannot be stressed enough. Optimism, optimism, optimism. Project it to the people in your organization. Start by asking, “What are the opportunities amidst all of this? What lessons can be learned? What new beginning will come after the crisis?” Then communicate them with your team!

Focus on what is working and play the “what if” game with a positive spin.

3. Plan Smartly, Adapt Boldly

In a crisis, leaders should stay alert to define priorities and make smart trade-offs. Set KPIs and other metrics to match the present situation, keep the mind and body in fighting shape. Build a direct connection to the people in the front line and note that at times like this, you might need to throw out yesterday’s playbook.

To ensure survival, fortify the finances of the company, and protect cash. Reinforce your supply chain and make sure that help is given to the partners that may have difficulties in mobilizing their team and sending materials.

Lastly, seize the demand shift. The current crisis does not only pose problems but also opportunities for your organization. For example, the telecommunication company XL Axiata found that although the demand for internet services from offices in central business districts decreased, there is a greater demand than ever before from residential areas due to the increase in online education. Therefore, the company focused on optimising their services to this segment.

4. Stay Agile: Support Business Continuity

There is no better time to reflect on the organization’s long-term strategy than now. Companies and leaders need to focus on where to restructure and where to diversify to survive in the new normal and the changing business landscape once the pandemic has subdued.

Reimagine and strategize. An organization might need to accelerate digital transformation and implementation for FY2020:

• Reimagine your company’s product or market to make sure that the goods or services given to customers remain relevant. See what value propositions you might need to change.
• Reimagine business operations in terms of how you deliver service to customers and also, how to avoid conflict between traditional channels and new online ones.
• Reimagine the way your company works. In this aspect, a company might need new guidelines or even a new type of contract.

The goal for all of this? Business continuity.

BRIGHT Indonesia will lead your way

In short, during a crisis prioritize people and project optimism. Ask, what is the core of your company? Then plan smartly and seize any opportunities that surface during this pandemic. As the acceleration in technological adoption during the new normal is expected to stay even after the pandemic is done, consider reimagining your company as a whole for a more sustainable strategy. Stay resilient, who knows when the next crisis will hit? And BRIGHT Indonesia is here to tackle the obstacles.

We offer services such as Business Partnership Engagement, Business Incubation and Accelerator, and Management and Strategy Consulting. You will be able to secure an agreement with your future Indonesian business partners while getting business advice, business support, and local representation. Also, support your company from the private sector with the development of corporate/business unit strategies or helping your company from public sector organizations with public policy.

With exceptional local market expertise and networks in Southeast Asia, BRIGHT Indonesia will offer excellent services designed specifically to achieve your company’s goal.

For more information, email info@brightindonesia.net.