Title: Strategic Planning in the Midst of a Crisis
Oct 15, 2020 12:00 PM Eastern Time (US and Canada)
Presenter: David Auda
Earlier in the year I ran a webinar to explore strategic planning after the onset of an unanticipated disruptive event, covid. The material content shared the benefits of doing such a plan even after the disaster had struck and laid out steps on how to develop such a plan. I suspect that a good number of businesses and/or leaders simply cobbled up a reaction plan to mitigate losses and then attempted to put together some types of a tactical plan to navigate the duration of this disruption by addressing new risks as they develop. Such a plan would fall into the category of Risk Based Decision Making. It is a plan that most likely highlights waiting for something to happen, making another containment/mitigation plan while hoping that the problem will go away soon. Hope is not a strategy. Risk based Decision Making is rooted in the visceral not the logical mindset. There is of course another side to this, the opportunistic side. So given that the return to normal, the new normal, is not even on the calendar yet, there is still plenty of time to lay out a strategic plan that includes not only sustainability through this prolonged disruption, but explores the potential opportunities that are coupled to it. What would appropriately fall into the category of a growth mindset rather than a fixed mindset.