It appears that we have come to a fork in the road of this current crisis – as medical experts warn of a second wave of the virus and continue to assert the importance of social distancing, some politicians and business leaders are calling for the re-opening of society. We have entered a phase where we are being forced to weigh the importance of a functioning economy vs. the health and safety of our populations. This week we saw the oil sector, one of the globe’s cornerstone industries for over 150 years, hit dramatic and historic lows; while at the same time, the global death count from the COVID-19 outbreak has surpassed 175,000. The decisions we make during these times have real world implications in the most fundamental sense – how do we ensure the choices we make are in the interest of the greater good? I hope you find some guidance in this week’s resources.
All the best,
Doug
In recent days the news has been full of stories of protestors, politicians, and business leaders demanding an immediate return to ‘normalcy’, what they fail to understand is that a virus does not play by human rules. Check out this video of Dr. Rakesh Suri discussing why in times of crisis, leaders must resist the urge to push too hard, too fast.
What is the value of a human life? This week the Planet Money podcast explores the history of putting a dollar value on life itself and the difficulties of interpreting humanity through an economic lens. Yet, by doing so, how we can better understand the economic calculus of our decisions so as to not jeopardize human life for the sake of short-term financial reward.
As business leaders, our current priority is managing the situation immediately in front of us. However, do you have a clear vision for the future? That is the question that Harvard Business Review explored this week. Re-establishing goals and expectations and moving forward with a clear vision will be key to weathering this storm, are you prepared?
With the global economy stuck in paralysis, the economic impact of this crisis is undeniable. TED recently sat down with CNN’s Fareed Zakaria to discuss the implications, including how the decisions made during this pandemic have the potential to completely re-establish the global power balance both politically and economically.
In times of crisis, the importance of communication increases exponentially. To battle the uncertainty, stress, anxiety and tunnel-vision that this outbreak has brought about – a clear communication strategy is imperative for your organization. Fortunately, McKinsey & Company has put together a leaders guide to communicating during COVID-19.
