In this crisis, some companies have flailed, but some have fared relatively fine. Why such a disparity in outcomes? Diligent Corporation’s VP of Thought Leadership, Dottie Schindlinger, shares what COVID-19 has taught us about continuity, crises and corporate boards.
The COVID-19 pandemic is not the first crisis that corporate directors have faced, but in terms of its complexity, scale, economic impact and continued uncertainty, it’s unprecedented. Between shattered supply chains and the volatile stock market, organizations have looked to corporate leaders for effective responses and solutions. In early March 2020, we interviewed corporate directors from around the world to learn more about how their boards have adjusted their processes, priorities and perspectives in response to the COVID-19 crisis.
The Impact of the Crisis Has Been Complex and Uneven
Organizations and communities across the economy have been impacted by the COVID-19 crisis in different ways. In our earliest conversations with directors, most expressed the belief that the companies with the deepest cash reserves would be the most resilient. For some industries – such as travel and hospitality, and for companies with less liquidity and less adaptable business models – this crisis could lead to extinction. For others, the crisis…
