Our world today is one of continuous, unpredictable change. It seems likely to stay this way for an unpredictable length of time. But managing a business requires some ability to see what’s ahead – to predict. How can you predict well enough for managing a business or organization in such an unpredictable world? Here are a few ideas.
We all knew COVID couldn’t last forever, right? Things would eventually stabilize and get more-or-less back to normal. No masks, no distancing, no occupancy limits, no travel restrictions, no lasting health worries. And here we are. Or are we? The lifting of many restrictions obscures some huge changes that have occurred while COVID ruled. Here’s my take on the most significant and likely permanent changes.
The New Normal that everyone seems to be expecting won’t be normal. It will be very different and very unstable for quite some time. It will be followed by yet another New Normal – unforeseeable and different but somewhat stable. We will look at the critical importance of organizational agility in managing effectively through these challenging times.
Action must generally be based on a solid understanding of the situation. Winging it is not generally considered to be good management practice. Study, plan, and then act seems to be the standard formula. In the good old days, things were always changing but in a stable, understandable manner. No longer. Action increasingly happens based on little or no real understanding.
High fixed cost businesses – airlines, restaurants, medical services, hotels – can be great money-makers when times are good but almost instant disasters when a major downturn or economic instability strikes. Such businesses require a stable, predictable business environment for survival. How can you manage one of these through the storm and insulate against a future repeat?
