Five old school management practices no longer fit the times. Companies that adapt quickly are more likely to avoid economic and employee pain.
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Business Bullet articles for March 2020.
Ambiguity surrounding who is responsible for making a decision (or decisions) is a primary cause of delay in vital business activities. Five steps can clear up confusion.
Estimates indicate that services to support the charging of EV fleets could be worth $15 billion in annual revenues and cost savings. Much of that money would come from three activities.
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Businesses should examine three possible coronavirus scenarios in their planning:
- Quick recovery (least likely);
- Global slowdown (base case); and
- Global pandemic and recession (pessimistic).
McKinsey & Co.'s 23-box COVID-19 checklist provides business leaders with specific actions to:
- Protect employees.
- Create a cross-sectional COVID-19 response team.
- Create goals based on workstream (other than your employees).
- Practice your plan with top team members through an in-depth tabletop exercise.
- Demonstrate purpose.
PEI is in contact with U.S. officials overseeing the COVID-19 response.