Global consulting firm The Hackett Group is taking steps to help companies deal with the sudden and dramatic business disruption caused by the coronavirus pandemic, most recently with a report outlining five "essential actions" companies can take to counter disruption and make the most of their assets—in both the short and long term.
The complimentary research is titled Disruption 2020: Five Essential Actions to Take Now and includes guidance on labor, finance, and the supply chain. The authors say the steps can help "yield a significant, positive impact in the near term. These actions can also be catalysts for meaningful performance improvement in the longer term as crucial first steps to close the performance gap. In fact, top-performing companies operate at 57% less cost, which, for a $10 billion organization, equates to approximately $200 million in cost savings from general and administrative (G&A) efficiency alone."
The five steps include a list of what companies need to do now and, most importantly, how they can do it. The steps include:
Access the full report here.