Through this “reopening”, companies need to consider different scenarios that illustrate the potential trajectory of their recoveries. There is also an opportunity for businesses to enhance their resilience to our new COVID reality, future pandemics and other potential shocks.
COVID-19 and its effects are felt throughout the world. First and
foremost a human tragedy, the pandemic has required unprecedented public
health measures across all geographies, with business shutdowns and
stay-at-home policies disrupting the global economy at a scale never
seen in our lifetime. The crisis has limited the operations of many
businesses and has had implications for employees, supply chains, cash
flows and investor returns. At the same time, it has also highlighted
the importance of effective and sustainable continuity planning for
business resilience.
As governments start to ease restrictions,
companies need to manage both the operational and financial challenges,
as well as a return to work in drastically different conditions. Through
this “reopening”, companies need to consider different scenarios that
illustrate the potential trajectory of their recoveries. There is also
an opportunity for businesses to enhance their resilience to our new
COVID reality, future pandemics and other potential shocks.
This
pandemic has also brought topics of sustainability and inclusion to the
forefront among a variety of stakeholders (employees, investors,
consumers, governments, etc.) as it reveals the interconnections between
business and society and strengthens the stakeholder capitalism
paradigm.
In the context of our COVID-19 Response program, we have collaborated with Boston Consulting Group (BCG) to develop a guidance framework and checklist tool
to support companies in managing both the operational and financial
challenges as well as a return to work in different scenarios.
WBCSD
© WBCSD - World Business Council for Sustainable Development
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