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Let’s face it - the new world order has arrived!

The dynamic business landscape of current times is vastly interconnected and every change has a ripple effect that pans across.

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By Alexander Reisch  Apr 29, 2020 5:55:49 AM IST (Updated)

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Let’s face it - the new world order has arrived!
“Who would have thought”? I am certain this introspective rhetoric is in the mind of each individual, all over the world, today. The COVID-19 health watershed has literally brought the entire world to a grinding halt, severely impacting the global economy. The dynamic business landscape of current times is vastly interconnected and every change has a ripple effect that pans across. Hence, at times like these, it becomes more important for businesses to diversify and implement alternate strategies to ensure the inflow of working capital, and continuity of capital flow in the economy.

Richie Norton, the award-winning, bestselling author of ‘The Power of Starting Something Stupid’ once said, “Breakdowns create breakthroughs”. So, what can a business leader do when it’s imperative to ensure positive business continuity? What’s certain in uncertain times is unique innovation. As I see it, there are a few priorities that can empower a business leader in planning and ensuring minimal business disruption, which in the long-term will help the businesses, and subsequently the global economy to stand back on its feet.
Start with putting a Special Situation Management Team to break through the clutter and get things going in record turnaround time. Ensuring the safety of your people remain the number one priority, staying focused on sustainability and business continuity with a leadership that’s optimistic and positive. Expanding further, here’s what it will take:
Quick and swift
adoption of technology
If there is one thing that is a clear game-changer — it is harnessing the power of technology. Therefore, continuing to invest in building robust technology infrastructure and leveraging every aspect of it is a mainstay. It is the single most effective means of connecting, collaborating and co-creating, remotely. The technology underscores how business is and will run in the immediate future.  It has enabled knowledge and service-based functions to continue, uninterruptedly, ruling out the possibility of a significant impact on the workforce.
In parallel, what’s essential is to constantly upskill employees to warrant swift and agile adoption of new technologies.
Clear and consistent communication
Communication is central, critical and operative. Regular, transparent and credible messaging underpins commitment and optimism, creating momentum for collective contribution — towards the realisation of business goals, in line with external triggers. There is always an opportunity in every crisis and the same rule applies here. Communication amongst team members, functions, management is vital to confirm all hands are on the deck and running as per agreed strategy. A successful leader will motivate in challenging times through honest, empathetic and clear communication.
Keep talent engaged and motivated
‘We are in it together’, is the message that needs constant echoing. What’s significant to surviving any situation at hand is how you engage your own talent pool. Their motivation and passion are instrumental in securing the future of any organisation. Like for us, assurance of our people’s good health and safety is primary; combined with empathy and compassion. Leaders must keep checking on the pulse of their people, invigorating them by regular engagement and interaction, through company-wide townhalls, weekly business meetings, non-work agenda coffee catch-ups, acknowledging their above and beyond contribution and efforts in the workplace in these extraordinary times.
Keeping it personal is also key to leaders. Sharing their own personal experiences and anecdotes of coping with this new normal is inspirational, human and real, agnostic by protocols and any sort of hierarchy. A simple post, video recording, a WhatsApp text goes a long way. It’s important to encourage mindfulness, humour and the spirit of community. These are times when one needs to surround oneself with positive and optimistic leaders. It becomes essential to reiterate to the people the importance of taking care of their mind, body and soul; and lead with activities and initiatives that boost these at an organizational level. One of the things that’s been discussed extensively across the board is the need to focus on mental health very seriously. So, there are many aspects that need to be addressed. An effective way to ensure this is to create a ‘special situation management team’ that’s able to assess various kinds of situations and scenarios real-time and help get things done.
It is pivotal to focus on what we have, rather than what we don’t. Therefore, it becomes extremely vital to develop a creative solution-oriented mindset, being grateful, and taking the requisite measured steps by optimally deploying the resources available to us.
In this new world order, true leadership will be a lot about bringing people together in purpose, for collective action. Only then can we hitch the wagon to a star.
-Alexander Reisch is Managing Director, IPM India Wholesale Trading Pvt Ltd. The views expressed are personal.

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