We’re in an era of crisis opportunity
COVID-19 has seen many businesses struggle. But there are lots of examples of businesses that have known exactly how to adapt, and view this time as an opportunity, argues Robyn Sefiani.
Having counselled clients through many crisis scenarios, including the global financial crisis, it’s clear this COVID-19 crisis is different. Triggered by a global pandemic, many businesses have navigated the first painful month of adjustment, recalibration and realignment to best position themselves to survive and emerge stronger.
What’s glaringly different this time, is that a company in crisis is not alone. There is less focus on companies in crisis and more interest in those successfully morphing and adapting to the new normal. We’re now in the era of crisis opportunity.
Businesses across the world coping the best with COVID-19 are viewing it as an opportunity
Crisis commentary
In a typical crisis, the affected company provides regular updates on what it’s doing to resolve the crisis and ensure it never happens again. However, what people and businesses want now is clear and timely information, facts and guidance on what to do next, both in their personal and business lives.
Governments, banks and media have stepped up and will be rewarded with higher levels of public trust, not only for practical assistance provided, but also the empathy shown. Now is the time for subject matter experts to be visible and share their knowledge to assist others.
Crisis inspiration
Now is the time for corporations to step up and live their true purpose and be better corporate citizens. Not only is it inspiring to see beauty companies pivot to produce hand sanitiser instead of perfume, but there are examples of inspiration everywhere.
The Ballarat teacher who started a Facebook page suggesting backyard camping sparked a phenomenon for Easter family fun, and a nimble leisure brand moved swiftly to advertise products and claim Australia’s Biggest Backyard Campout. Good for them.
Another practical initiative I like is Coles’ fun nightly cooking classes during prime-time TV news bulletins to inspire and help Australians cook healthy and tasty meals. Coles understands a lot of Aussies can’t cook and it’s helping to meet a need. The most inspiring companies are those whose corporate reputation will strengthen during the pandemic.
Crisis innovation and collaboration
Innovation is not typically a tactic deployed in crisis management or recovery – until now. Smart businesses are probably thinking, “If we don’t innovate, we may not survive”.
Collaboration is springing up between previously unlikely bedfellows, harnessing collective IQ and capability, building resilience and enabling surprising and helpful services and outcomes suited to the current environment and what will follow.
The first great example of this was when the CEO of Woolworths offered to hire the stood-down Qantas staff to stack supermarket shelves. Clever collaboration providing mutual benefit to each organisation and its customers provides a great narrative to share, attract business and build brand and corporate reputation.
Robyn Sefiani is CEO and reputation counsel at Sefiani Communications Group
Totally agree. Well Articulated Robyn. So good to see the collaboration between parties. So different to the time of the Depression. Great to see banks helping and understanding their clients in this time of global crisis.
Overall it’s wonderful to see such understanding of people towards people, governments to their people , companies to their people, colleagues.. we are all in this together and can only get through with the support of one another, shoulder to shoulder – stand united, but understanding of individuals.
This is a time for realignment of human beings as good and supportive towards one another. A time to regroup and consider one another closely and globally.
It’s interesting to see how we can slow down to a degree. I like others are working really hard still, but in many ways for those that can – we can work effectively from home etc. it’s clearly not possible for all – our wonderful health industry staf, police and many more industries. But I find it incredible the Goodwill that abounds. That is amazing and a true reflection of our societies and cultures – wherever they may be.
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