This Week in Consulting
Wednesday, March 25th 2020
Consultants Take on the Coronavirus Crisis
THIS WEEK’S MUST READ
“When companies are facing difficulties and start to be cash constrained one of the first actions is often to initiate a consulting freeze. Well not so fast ! In times of crisis, Consultants can help companies to get their battle plan in order, identify short and medium term opportunities and prepare for the aftermaths. “
There are many projects where working with consultants can help companies to create value better and faster.
This Week’s Must Read is an is an insight piece from Consulting Quest exploring how consultants step up to help their clients through the crisis..
Read on to Find out More: “How consultants can help you with Covid-19 Now“ | Hélène Laffitte, Consulting Quest.
THIS WEEK’S VIDEO:
James Crask, Consulting Director & Resilience Advisory Lead, Marsh Risk Consulting, explains how businesses can address their resilience around coronavirus (COVID-19).
- How Chinese Companies Have Responded to Coronavirus: “The Covid-19 crisis is fast-moving and hard to predict. But a new analysis of data from China suggests that the country appears to be in the early stages of an economic rebound. While this recovery could be vulnerable if a new wave of infections emerges, many Chinese companies appear to have moved beyond crisis response to recovery and post-recovery planning.” The authors highlight 12 practical lessons we can draw from how Chinese companies have handled the coronavirus crisis. | Martin Reeves, Lars Fæste, Cinthia Chen, Philipp Carlsson-Szlezak and Kevin Whitaker,BCG for HBR
- AI and the Coronavirus in China: China’s cutting edge technologies to defeat the Coronavirus– “While investigating the relationship between AI and the Coronavirus in China, we found unprecedented tech advancements in big data or AI in an effort to contain the outbreak. In fact, according to a WHO report that lists the finding of an expert investigation team sent between February 16 and 24, 2020 in China, “the implementation of [the] containment measures has been supported and enabled by the innovative and aggressive use of cutting edge technologies.” The article explores what advanced technologies have been used in China to counter the crisis. | Maxime Bennehard, Daxue Conseil
- Coronavirus could force teams to work remotely: “With the growing threat of coronavirus hitting the United States full force, the prospect of having to work from home is becoming increasingly likely for a wide swath of workers.If that occurs, normal work patterns, modes of communication, and team dynamics will be disrupted. The increasing uncertainty and anxiety about the personal dangers from the epidemic and its impact on the economy will make the challenge of adjusting to these work changes even greater.” This article lists some strategies to maintain business momentum by working remotely. | Heidi K. Gardner and Ivan Matviak for Borderless Leadership
- Will your supply chain thrive in a post-coronavirus world? “As coronavirus spreads rapidly around the world, we are already starting to see significant disruption to the supply chain from the closure of manufacturing facilities. Apple’s supply chain from China is only operating at 20 per cent of capacity and automotive manufacturers have been among the first to be hit: Fiat Chrysler is halting production at a plant in Serbia and Hyundai is suspending work in Korea.” The article presents a few pointers to help companies protect their supply chain and prepare for when the crisis over.| Tim Lawrence, PAConsulting.
CONSULTING INDUSTRY NEWS
- How volunteers from tech companies like Amazon, Apple and Google built a coronavirus-tracking site in six days– “The idea started when Prem Ramaswami, the head of product at Alphabet’s Sidewalk Labs, and his wife, started feeling sick more than a week ago. When he tried to get a test for the coronavirus, his doctor told him that would not be possible. According to Ramaswami, he was denied access to the test because he hadn’t been in touch with anyone who had tested positive” | Christina Farr, CNBC
- Content: How corporate leaders should act in a crisis? “When things are going well, it is pretty easy being a business leader. The economy is booming, orders are rolling in and there are no tricky decisions to make about staff or budgets. It is still possible to screw things up, but a rising tide tends to lift all yachts.” | The Economist
- Dollarama recognized as essential business: “ Dollarama Inc., Canada’s leading value retailer with nearly 1,300 stores from coast to coast, has been recognized as an essential business in Ontario and Quebec following the announcement of temporary exceptional measures to fight the spread of COVID-19. Dollarama will continue to operate its Montreal-based distribution centre, warehouses and at least all its retail locations with street access in these provinces.” |PRNewswire
- UK consultants fear coronavirus will spark a huge drop in fees: “While its growth remains its slowest for more than seven years, the management consulting market of England, Wales, Scotland and Northern Ireland remains the globe’s second largest. However, Britain’s economy is in a uniquely precarious position as the Covid-19 pandemic takes its toll – with Brexit negotiations still on-going – suggesting UK consultants could be about to see a huge drop in fees.” | Consultancy.uk
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