March 21, 2021 1 min read

Crises are adrenaline for innovation. You must make decisions quickly under extremely uncertain conditions, and you never have enough time or information to fully weigh difficult choices that may affect both employee livelihoods and the survival of the business. Yet these very constraints can unleash waves of creativity. Necessity and urgency spur ideas and dissipate inertia. Leading innovators seize such conditions to reshape mindsets and behaviors, embracing the opportunity to uncover fresh solutions and make bold bets that can reignite growth.

While the COVID-19 crisis has not affected all sectors or geographies equally, the major discontinuities it has introduced across markets, customer behaviors, and ways of working and living mark an inflection point in history. Our research suggests organizations that innovate through crises by focusing on generating new growth versus simply weathering the storm outperform significantly over time. But leading your organization to a successful COVID-19 exit requires making fundamental shifts in mindsets—starting at the top.

Being a bold innovator is a choice that must be backed by a commitment. To put the organization on a new growth trajectory requires three actions:

  • Reallocating toward the future—place bets, backed by sufficient funds and people, on emerging profit pools while reassessing legacy decisions.
  • Embedding flexibility—reorganize around new, crisis-inspired ways of working.
  • Hacking processes—focus on outcomes rather than activities to increase speed.

To read the full Gallup article, click the link below:

https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/innovation-your-launchpad-out-of-the-covid-19-crisis

Authored by Laura Furstenthal, Martin Hirt, and Erik Roth

Harold Hillman
Harold Hillman



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