03/16/2023

Applying What Your Organization Learned in the Pandemic

Don't be so eager to move on that you forget the lessons gained

BCG research has found that 15 percent of companies outperform their industry in more than 80 percent of crises. Berkshire Hathaway, for example, outperformed its peers in 15 out of the last 17 turbulent periods.

This consistent outperformance is possible because these companies built resilience. Instead of relying on ad hoc measures, hedges against specific scenarios or the surge performance of individuals, they’ve built the capabilities that enable them to thrive through adversity. In other words, they’ve institutionalized resilience.

As the pandemic marks a third anniversary, business leaders around the world are eager to move on. But few companies have systematically institutionalized what they’ve learned from their COVID-19 experience. We suggest a three-step approach to do so.

Please select this link to read the complete article from Harvard Business Review.