The general counsel in a resilient world

Rather than simply waiting to see what changes the business will make, the leading legal departments are embracing the crisis as an opportunity to drive much-needed transformation in their operating models. They recognize that their current ways of working are no longer fit-for-purpose in a virtual and rapidly-evolving environment. They understand they will need to rethink their technologies and cost structures if they hope to continue delivering on their ever-expanding list of objectives.

Many businesses anticipated an economic slowdown for 2020, but none could have prepared for a global pandemic making unprecedented demands on employment, cash flows, and supply chains. Businesses responded with agility and empathy—cutting discretionary spend, furloughing employees, and making use of government loans and aid to help weather the storm. The companies that have surfaced in a strong cash position are more likely to return to growth more quickly.

As hopes of a “return to normal” fade, general counsels and their teams need to re-evaluate how they can support the business in the “new normal”, identify the demands and opportunities they face, and put together the business case for change.