Turning Lemons into Lemonade

Moments of crisis can provide an opportunity to learn and grow. Immediately following the tragedy of September 11, 2001, people and businesses were forced to adjust to a new world of uncertainty. Companies had already in place crisis contingency plans and disaster recovery plans, but many firms had not tested these procedures as rigorously as they might have to insure minimal business disruption.

The 9/11 tragedy was a wake up call. Firms quickly came to grips with the understanding that they needed to not only have redundant communication plans, but back up IT systems in multiple locations, and alternative logistical plans for employees and vendors. Paul A. Argenti, wrote about this in more detail in the Harvard Business Review article, Crisis Communication: Lessons from 9/11.

Now in 2020, the business world is faced with another crisis, the CoronaVirus, aka COVID-19. Once again, firms are being pushed into untested territory. For over a decade thought leaders have talked about remote work as an employee benefit companies may offer, but now it may have become a necessity. Products such as Zoom and Remo were supplemental tools for business to use, but were seldom seen as a core foundation to everyday workflow and survival.

This week firms around the world in all shapes and sizes are being forced to test a possible new reality of the completely virtual office. This means enabling employees thru technology the ability to work from home with full access to their necessary data, communicate seamlessly with fellow workers, clients, vendors and prospects, while not missing any efficiencies.

The question before us is the same that rose to the forefront on September 12, 2001: are your company’s alternative business systems scalable with planned contingency processes mapped out to insure continued execution?

What I can tell you is that challenges typically make us stronger. The virus challenge before us will force us to completely reassess remote work, flexible supply sourcing and manufacturing, and much more. These types of changes take on a greater business priority in an increasingly connected global economy.

This week Laconia will continue to work with each of our partners to assist them in adapting to this current crisis with an eye on permanent operational change where applicable. Smart companies will strive to grow through this adversity and identify currently unseen opportunities. They will turn lemons into lemonade.