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Organizations in virtually every industry, of various sizes and across the globe, have been experiencing a riskier business environment, and the expectations for the year 2020, even before Covid-19 entered the equation, was no different.
This coronavirus spreads ten times faster than the normal flu. With no vaccine available at this time, the Covid-19 pandemic has become a global threat. We must act immediately to respond and recover from this crisis. The question is – how do we control and outrun the spread?
If 1% of the population is infected, a test has a 90% specificity and a 90% sensitivity, the probability of a positive test result correctly indicating the infection is only 8.3%!
As the world changes around us and we are faced with dilemmas on how to adapt to change, organizations are faced with very similar challenges: How do they create a culture of resilience that would best position them to overcome disruption and setbacks?
Promptly re-prioritizing activities, mobilizing resources to produce a clear view of increased risks and weakened controls and applying a structured approach to draw out the most opportunities from the crisis are instrumental for Operational Risk management during the pandemic.
Globalization will get stronger coming out of this crisis, people should use this time to bridge the skills gap and invest strategically in their future.
The current situation that requires employees to stay in place and work remotely has lain bare the evidence that the skills gap is wide.
Evelina Roseman, PhD, MBA: Business economist and a crisis manager with 21 publications on topics of globalization, innovation and human capital and 5 global corporate awards from Fortune 500 companies for strategies well planned and brilliantly executed. Evelina shares trends in the Future of Work and Innovation.
Karyn Mullins, President, Healthcare Staffing Technologies (a Jackson Heathcare Company) has a passion for disruptive telemedicine technologies and utilizing them to improve companies and the customers they serve.
Judy Romano, VP & CFO, InterContinental Hotels Group (IHG®) finds herself managing once again in disruption. She was the International CFO during the Equifax breech. She shares in her Webinar how leaders can and must be part of the solution during disruption.