Business recovery from COVID-19: A Guide for Board Members

Key questions to ask management include:

Resilience as a way of being

• What have we learned to incorporate into the business permanently?
• What silos were broken down during our initial response and how can we make them permanent?
• Where did we find our operating model was unable to handle the crisis?
• What other changes to the business model are implied by the crisis?

The mindset shift: From today to tomorrow

• Situation and Management: Is the tone shifting from crisis management to interim-term program management?
• Focus: Has the company pivoted to a market-facing focus?
• Planning: Are scenarios being considered and how they are impacting the Recover plan?
• Attitude: How are we reinventing the business? What new business models need to emerge?

The only certainty is …uncertainty

• What is the impact of the five uncertainties on the Recover plan and future?
  • Changing social contract
  • Changing roles and rules of institutions
  • Unpredictable cash resources / capital needs
  • Permanence of customer / consumer behaviors changes
  • Changing expectations for physical, emotional, financial, digital safet

Trust as a catalyst of recovery

• How has trust been built up (or deteriorated) in the organization during Respond?
• Where/how does trust need to be further built to enable the Recover plan?

Anticipate the destination

• At end of Recover:
  • What does “success” look like?
  • What is the expected timeframe for “Recover”?
  • What are the critical factors which would modify the timeline?
  • What impact will each of the five “uncertainties” have on the destination?
  • What are the other “unknowns” which could modify the timeline?
  • How has management answered each of the core strategic questions related to stakeholder outcomes?
  • Is the Recover PMO team equipped and resourced? Are responsibilities defined?

The Board’s journey through Business recovery from COVID-19