Leading in turbulent times webinar series: Rapid resilience
In such times of crisis, companies’ resilience is what shines. So what are the different strategies that lead to resilience? How have certain companies absorbed the shock, changed and bounced forward rather than backward?
This webinar led by Howard Yu, LEGO Professor of Management and Innovation and Director, Advanced Management Program (AMP), IMD, and Patrick Reinmoeller, Professor of Strategy and Innovation, IMD, takes a deep dive into how companies in Asia, Europe and the US are beating the virus with resilience. Discussing key capabilities and strategies, they explore different approaches and reflect on two important questions that plague company leaders now: How to become resilient? How to do so rapidly?
The basis of their thinking is summed up in five principles of resilience: structural organizational autonomy; industry boundaries rooted in ecosystem thinking; decision making transparency; culture of resilience; and strategic foresight.
Sometimes a company can benefit from unexpected developments, according to Professor Yu. While governments have spoken of reconsidering the size of technology firms in the recent past, that thinking has sustained a major shift since COVID-19.
“Everyone from Elizabeth Warren to the Indian authorities wanted to break up big tech,” says Yu. “Now firms like Google and Apple are now responding to the COVID-19 crisis by working together with governments to track individuals, for example. What a windfall!” says Yu.
Professor Reinmoeller then delves into several examples of resilience in family-owned or -dominated companies.
“Companies with a culture of resilience embrace slack – for these firms, redundancy is not important,” he says. “Stora Enso, for example, has been around since the 1200s and has been obsessed with sticking to their values and core purpose.”
Yet Reinmoeller specifies that at the same time, the raw materials company has remained ready to adapt when necessary, keeping a balance between tradition and innovation.
The two professors then end with a discussion on strategic foresight and what your company can do now to reinforce resilience to ensure a more successful future.
Research Information & Knowledge Hub for additional information on IMD publications
In that article I explained that modern safety leaders need more than just technical skills to survive in a VUCA (Volatile, Uncertain, Complex & Am...
An industry note describing the $13 billion market for hair care and related products in Africa.
In this note, I offer a framework to help business leaders cope with the duality of geopolitical conflict and stakeholder scrutiny. CEOs increasing...
With organizations of all sorts facing increased urgency and unpredictability, being able to ask smart questions has become key. But unlike lawyers...
No company can grasp the potential of AI until it has set up a data-driven culture enabling employees to create value from the insights that emerge...
While multinational enterprises (MNEs) are widely recognized for providing employment to a significant number of women around the globe, empirical ...
The case describes the strategic evolution of FUCHS China under the leadership of Zhu Qingping as the company transformed into a vital contributor ...
In a world where agility and global foresight are crucial for business survival and growth, the FUCHS case presents a compelling narrative of trans...
in Safety and Health Practitioner 29 January 2019
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD 16 April 2024
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Harvard Business Review May-June 2024, vol. 102, issue 3
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Journal of International Business Studies 26 March 2024, ePub before print, https://doi.org/10.1057/s41267-024-00691-w
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications