As COVID-19 Tests C-level Mettle, Change Management Takes Center Stage

As the coronavirus outbreak continues to disrupt global business, c-level executives are having their mettle tested as they are forced into a crisis management mode, which changes day-to-day and requires a different set of skills. Here, as part of a series of stories on change management, WWD speaks with industry consultants, investors and business leaders on what skills, tactics and strategies are needed to navigate this tumultuous time. This includes having a tactical focus in managing the day-to-day while also eyeing what’s ahead. Clear and consistent communications is needed, sources noted, and focusing on people — internally and externally — is essential. What makes the COVID-19 outbreak most challenging is that this a long, drawn-out disruption that is unprecedented. The pandemic is a slow burn that impacts all aspects of a business, and there’s no playbook written for how to manage it. Masha Drokova, founder and general partner at Day One Ventures, a consumer-focused venture capital fund, said companies need to focus on results, and not the process. “Focus on customers and listen to them as much as you can,” she told WWD. “Find a way to have a complete understanding of their most essential needs and execute quickly. They need you more than

Follow WWD on Twitter or become a fan on Facebook.

from WWDWWD https://ift.tt/2wgLBcS