With almost the entire world shutting down for the COVID-19 pandemic, 2020 has brought forth a unique set of challenges. From the economical aspect, there are many unanswered questions; from the business aspect, the pressure on CEO’s and leaders is daunting. With the sudden shutdown of the worldwide economy raising concerns, figuring out ways to re-establish and restart is not going to be easy.
Kevin Cashman: In a crisis, “perform” can become “survive,” and that can provoke fear. Many CEOs right now are saying, “I have to act. I have to move forward.” But sometimes the desire to thrive, to transform, requires you to slow down. The more something is complex, the more need to go slow to get it right. The paradox in the crisis is where do you push, where do you pause. You have to do both.
The job of a CEO is already strenuous enough, and amidst such situations it is only becoming more difficult. A CEO’s ability to demonstrate empathy, stay engaged, and maintain their fact-based approach is at test, pushing us to wonder whether CEO’s are courageous enough to make the decisions that will connect the organization with the upcoming future? It is safe to assume that nobody was prepared to battle an unprecedented crisis such as COVID-19.
John Jullens, a principal in KPMG’s Strategy practice who worked for many years in China, provides actionable ideas about how to respond. The first priority is to make sure that employees are safe. Then business leaders must protect their businesses from the supply and demand shocks—as parts and finished goods stop flowing from affected areas, and as consumers pull back. KPMG’s chief economist now forecasts a recession starting in the second quarter and continuing through the first quarter of 2021.
CEO’s and business leaders often tend to underestimate how much their employees look up-to them for answers and information to address their issues. By default, it is expected of leaders to demonstrate an optimistic approach with deliberate calmness. Those who succeed in masking their fears and demonstrate these qualities help their employees to feel a sense of purpose and remain motivated in such difficult times. But, there is only so much one can do while managing an entire organization-- multitasking can often bring stress and spark fear, which can further lead to health issues.
So, DT came up with a solution called DTSmartworks360: a digital application suite which offers you a smart solution to current challenges. This initiative is currently helping organizations to quickly adapt the new purview of how businesses function. DTSmartworks360 can help you to effectively reinstate the system by providing you with an end-to-end smart solution that comprises of:
Setting aside any contradictory views and strong emotions that they may be feeling, CEO’s have to continuously churn out complex pieces of information to set the organization forward. All of these tasks may appear to be overwhelming, especially with the priority at hand being employee health and safety where Dropthought’s solutions extend its support to business leaders by taking a load off of their hands and managing their workforces.
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