Throughout the last months, COVID-19 has proven to be caused one of the worst pandemics in the modern era. Across Europe, countries gradually lifted restrictions followed by a decline in the number of recorded infections and virus-related deaths. On the other hand, in some countries like Russia, Brazil, and most African countries the pandemic has not yet reached its peak.
In any case, all industries and businesses have been impacted by the COVID-19 crisis with varying degrees of rigidity. The economic impact caused by the coronavirus is still at an early stage with much worse to come in the second half of this year, revealing its mid-/long-term effects on the economy.
Business leaders from all over the globe are now discussing how to cope with the new normal and what the lessons learned from the corona crisis are. Our EIP partners, most of them currently working in companies as interim managers in board positions or as consultants in order to lead them through the corona crisis, have discussed what we have learned from the crisis so far. Although no business leader could have foreseen and prepared his or her company for this kind of sudden global crisis, we all learned that our future responsibility is to make our businesses even more crisis resilient.
We have summarized our top 10 lessons learned in the following: