Leading In Turbulent Times Webinar Series: Rapid Resilience

Apr 24, 2020 - 3 minutes read time

A huge thank you to all attendees that tuned into our webinar at IMD Business School. What a crowd! We had a record number of registrations and more than 900 have attended. It means a lot to us that a lot of people are interested in what we have to say.

There were dozens of terrific questions to answer at the end of the webinar, but we didn’t have enough time to go through them all. We’d be happy to connect on LinkedIn and would love to hear your thoughts, particularly if you have experience and insights into some of the areas we discussed. 

Howard Yu, LEGO Professor of Management and Innovation and Director Advanced Management Program

Patrick Reinmoeller, Professor of Strategy and Innovation

For additional information about examples we covered, please refer to the IMD faculty-authored articles below:

  1. Haier – How autonomy creates resilience in the face of crisis
  2. Ping An – In a crisis, ecosystem businesses have a competitive advantage
  3. Bridgewater – How Zoom-working will change companies forever
  4. Spreading resilience (2020) – Meeting the spread of coronavirus with a contagious resilience
  5. Country resilience (2020) – Coronavirus: Hybrid response of speed and resilience works in virus fight
  6. Dynamic balance (2005) – The link between diversity and resilience

You’ll find the wrap-up to the webinar below, as well as the video to watch the relive online at your convenience.

We hope all who attended learned something new and enjoyed our presentation. It was a pleasure seeing everyone and we do hope to see you again at the next webinar!

Rapid resilience: What strategies lead to success?

In such times of crisis, companies’ resilience is what shines. So what are the different strategies that lead to resilience? How have certain companies absorbed the shock, changed and bounced forward rather than backward?

This webinar led by Howard Yu, LEGO Professor of Management and Innovation and Director, Advanced Management Program (AMP), IMD, and Patrick Reinmoeller, Professor of Strategy and Innovation, IMD, takes a deep dive into how companies in Asia, Europe and the US are beating the virus with resilience. Discussing key capabilities and strategies, they explore different approaches and reflect on two important questions that plague company leaders now: How to become resilient? How to do so rapidly?

The basis of their thinking is summed up in five principles of resilience: structural organizational autonomy; industry boundaries rooted in ecosystem thinking; decision making transparency; culture of resilience; and strategic foresight.

Sometimes a company can benefit from unexpected developments, according to Professor Yu. While governments have spoken of reconsidering the size of technology firms in the recent past, that thinking has sustained a major shift since COVID-19.

“Everyone from Elizabeth Warren to the Indian authorities wanted to break up big tech,” says Yu. “Now firms like Google and Apple are now responding to the COVID-19 crisis by working together with governments to track individuals, for example. What a windfall!” says Yu.

Professor Reinmoeller then delves into several examples of resilience in family-owned or -dominated companies.

“Companies with a culture of resilience embrace slack – for these firms, redundancy is not important,” he says. “Stora Enso, for example, has been around since the 1200s and has been obsessed with sticking to their values and core purpose.”

Yet Reinmoeller specifies that at the same time, the raw materials company has remained ready to adapt when necessary, keeping a balance between tradition and innovation.

The two professors then end with a discussion on strategic foresight and what your company can do now to reinforce resilience to ensure a more successful future.

Originally published on IMD Business School

Outlast your competition and thrive in an ever-changing world

In Leap, Howard Yu, LEGO professor of strategy and innovation at IMD, explains how companies can prosper, not just survive. Leap identifies five fundamental principles that allow companies to stay successful in the face of such competition.

Learn More

Comments for this post are closed

Latest Thinking

How Lazy Thinking Leads to Outdated Values and Causes a Corporate Meltdown

May 12, 2021

Diverse business partners arguing

Imagine you’ve spent two decades built up a remarkable organization. It’s small, but beautiful, with about 60 employees in total. The company has always been laser-focused on its service offerings.…

Two Charts That Show Some Conflicts in Top Leadership Are a Good Thing

May 05, 2021

Business people talking in meeting

I recently came across this company mission statement. I am copying it here verbatim. “To operate the best omni-channel specialty retail business in America, helping both our customers and booksellers…

Three Charts That Show Why Andy Jassy Is Great As Amazon’s CEO

Apr 29, 2021

AWS CEO Andy Jassy who will become Amazon's next CEO. The company announced in Feb that Jeff Bezos would step down

Identity leads to action. A company with a strong identity, when backed by the ability to deliver, tends to win. Few identities are clearer and more specific than that of…