How to ensure the survival of the company in the new reality. Key areas that need to be considered.

Sebastian Goschorski
Vice-President of the Board of the District Branch of Accountants Association in Szczecin and Business Development Partner, Head of China Desk in RSM Poland.

The changes that we are currently experiencing create a completely new reality and will require companies to change their approach to how the organization is managed. The success of these changes largely depends on how we start and how we organize the processes.

Even the current situation, associated with the mass transition to remote work, necessitates a new approach to process management in the company and the implementation of completely new performance assessment indicators. If the situation is prolonged and people do not find themselves in the new situation by accepting it, the organization can very quickly end its existence.

The most important is proper planning of activities related to the transition of the company to a new reality. All decisions should be preceded by sensible analysis, and communication should be as clear as possible to all concerned.

Click to see full details.

The most important questions to answer before preparing an action plan are:

The general situation of the company. What is the situation in my industry? What does my company look like against this background?
Key contractors. Both recipients and suppliers. Am I ready to start talks about payments, deadlines for services?
HR. What is the situation with people? Do you need additional activities? Does anyone in the organization need support? It is very important to skillfully organize remote work because currently most employees have simply been forced to stay at home and their efficiency is very low or even none.
IT. Are our systems prepared for changes that have taken place?
Finance. Have the costs been reviewed? Is accounting properly organized? Is cash flow reviewed regularly?
Communication with clients. Do they expect additional information from us? Do we need to set up a support team?

Of course, this list does not exhaust all the questions in any way but is only an introduction to a more comprehensive analysis.

People managing the company should focus on the analysis and proper planning of activities so that the current situation has the least impact on the operation of the company. There should be plans for ongoing operations. Communication of changes that are the result of thorough business analysis is also key. In the event of a prolonged slowdown, salary reductions or dismissals may be required. In communication within the company, it will be important to properly communicate and present the company’s situation and discuss the steps taken to survive.

Summarizing. Before companies, even those that are resistant to various types of crises, there are currently many challenges. You need to carefully analyze the current situation of the company and answer the question where are the greatest threats. It doesn’t matter what time in the business cycle you are.