As crowds thronged to watch the crystal ball drop in Times Square or see the fireworks display over Sydney Harbour on December 31st, few - if any - of those ringing-in the new decade would have predicted the grim situation the globe would be facing by Easter: more than half of the world's population in lockdown, 100,000 dead, stock market turmoil… In Covid-19, companies face a challenge like none they have ever encountered.
As the pandemic continues, in boardrooms from Beijing to Barcelona, management committees are ‘war-gaming’ numerous potential economic scenarios, ranging from a short recession to a new Great Depression. In order to survive this unprecedented crisis, executives will need to get the most from their human and financial capital. We are all in this together and there will be no salvation without the continuous support and cooperation of all economic stakeholders - both banks and state bodies - and the intelligent deployment of staff who, in turn, are learning to work and interact differently.
Executives are well versed at providing direction, instilling a vision and balancing risks and opportunities. But in the current environment, they are in unchartered waters. Bosses, financial directors, HR managers, representatives of public institutions… these leaders must drawn on all their strength and experience to steer their organizations through this storm. What is their state of mind? How have they handled things in recent weeks from an operational point of view? Do they see future opportunities in this crisis? In this special report, Leaders League gives them the floor.