The global COVID-19 pandemic has created the greatest financial crisis since the Great Depression. Despite the challenges of today’s unprecedented times, there are, nonetheless, strategic principles that merit thoughtful consideration in solving today’s unprecedented problems.
Companies should leverage new cost savings, optimize critical assets, and be purposeful with building or sustaining their company culture in a digitally distributed environment, while taking into consideration the human factor more than ever before.
Many B-schools have responded to COVID-19 by increasing their online presence as a stopgap measure in the short term and potentially a long-term solution to ongoing economic challenges. These actions may not be a complete solution to the problem.