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COVID-19 Response & Planning Strategy
This guideline document is being issued during the Movement Control Order (‘MCO’) period with the view of providing additional ideas to supplement the actions taken by organisations to-date, and to provide further support to business leaders in navigating their businesses out of the sea of uncertainties we are facing.
- COVID-19 has brought to the world one of the greatest challenges since World War 2!
- Both mankind and corporations are under serious threat globally!
- Well-thought out corporate moves, strategic analysis, and timely execution are essential for business survival.
Objectives of this Guide are:-
- To provide organisations a quick analysis on business continuity risks present at key operating functions.
- To share our thoughts on key strategies to deal with the COVID-19 challenges.
CONCERNS LOOM FOR BUSINESSES
The majority of businesses have been negatively impacted by COVID-19. Businesses are:
- Struggling to adapt
- Feeling inadequately prepared to deal with the crisis
- Concerned about future growth
%
Nearly half agree that their business has been impacted by the current public health situation and are concerned about the future of their business.
%
Nearly half agree that their business has been impacted by the current public health situation and are concerned about the future of their business.
RECOMMENDED STRATEGIC EXECUTION ROAD MAP
CORPORATE/GROUP SUPPORT FUNCTIONS
Business Continuity Risks Analysis
OPERATIONAL FUNCTIONS
Business Continuity Risks Analysis
WHAT CAN ORGANISATIONS DO?
FROM SURVIVE TO THRIVE!
- Improve Focus of the Marketing Spend & Returns
- Enlarge Customer/Market Basis Through Focused Client Segmentation & Margin-oriented Decisions
- Re-evaluate/Adjust Supply Chain Arrangement
- Adjust M&A Strategies
- Invest in Technology with Execution Abilities & Closely Monitored Returns
- Outsource Non-core Functions
- Diversify Financing Sources & Establish New Credit Facilities
COVID-19 MAY LAST, BUT BUSINESS RESILIENCE IS THE ULTIMATE DIFFERENTIATOR!
- While busy analysing risks & preparing respond strategy – continue to look out for opportunities!
- Maintain a positive & optimistic mind set
- More productive – as time is limited
- Focus energy & effort on critical business aspects
- This is the time to review and revalidate all your business & operational assumptions
- No longer “Business As Usual”
- Perform scenario analysis
- Strategy & solutions development
- Leverage on Group-Intelligence
- Take appropriate risks – supported by comprehensive analysis & deep thinking
For more information, please contact:
Nurhaniza Dato' Seri Mohd Khalil
Tricor Axcelasia Sdn Bhd
Head, Business Development & Communications
Tel: +6012 2317515
Email: Nurhaniza.Mohd.Khalil@ my.tricorglobal.com
For other Tricor services, please email to info@my.tricorglobal.com or visit to www.tricorglobal.com
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