The pandemic has forced each business to consider how it might survive. For many firms, a strategic choice was made to focus on preserving the Firm (vs preserving those the Firm serves). But this choice has sacrificed the one thing needed to rebuild the business – their people.
Preserving the corporate entity that is the Firm, or preserving those that the Firm serves (employees, customers, suppliers), is not an ‘either/or’ decision, it is a ‘both/and’ choice. Both the Firm AND those it serves must survive. Organizations that thrived shifted focus from self-preservation to other-preservation.
They adopted a broad definition of ‘other’, looked at the Firm from the outside, and placed their management focus on creatively developing ways to preserve the Firm itself and those whom it serves (employees, customers, suppliers).
Instead of self-preservation, they engaged in Other-preservation, which has led to growth, renewal, and a thriving organization during a pandemic.
Successful firms created clear, simple and easily understood guidelines on
how to preserve the Other (employees, customers, suppliers). To aid decision making and accelerate their pivots, a North Star was crafted. This North Star was other-focused and allowed the teams to engage in a purpose driven mission that aligned with the organization’s values.
As a result, employee engagement increased, financial results surpassed expectation, and the firms that deployed this strategy were well- positioned for future growth.
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