Firms can make use of the 4Rs Cycle to plan and execute their COVID-19 business recovery. As uncertainty continues, cycle through the steps:
- RE-STABILISE: Return to revenue by developing a cutdown operation and offerings.
- RELATIONSHIPS: To regain customers’ confidence, firms must demonstrate they’re taking extra measures at every touchpoint. Create goodwill & build lasting partnerships across the supply-chain.
- RESILIENCE: The world has changed, so reshape the firm through rapid experimentation of new products and services.
- RESTRUCTURE: Firms should restructure based on an assessment of their experiences and survival strategies.
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