Summary of interviews with danish businesses in week 12
Nextt Management has been in contact with a number of companies, managers, auditors and banks to get a sense on how Danish businesses have been experiencing the “Corona crisis”. We asked them about how they are experiencing the world right now, what their greatest challenges are as leaders and what do they immediately see will be different when we come out on the other side of this crisis.
We have summarized a number of experiences, statements and expectations from the contacts above:
- The most current challenges right now are the employees ‘concerns for their own safety and thus the companies’ opportunities to maintain production.
- Specific actions are visible leadership from management; “Out on the floor” to the civilian employees, take into account the employees and their safety in the individual workplace and the employees’ interaction with external partners, etc.
- This applies physically to the places where production is still running, at construction sites, in retail and online, where employees are sent home and work from home.
- Visibility management or, more popularly, “Walk the Talk” is completely impossible right now in most workplaces
- What influence does non-physical presence have on the maintenance of values and culture in the companies, and possibly consequences of decisions that are made decentralized, or more locally, without the immediate leader being present?
- Several companies, which have both liquidity and still receive raw materials, produce for stock so that they are fully ready and can deliver at short notice when conditions are normal again.
- We have examples of production companies that choose to terminate all hourly pay and instead move all salaried employees (CAM, marketing, sales etc.) into production to maintain it.
- Several companies, banks and auditors expect that temporary external assistance will be needed for a wide range of corporate management functions, including: economy, finance, procurement / supply chain, production, upscaling, downscaling, relocation / decommissioning of production and deliveries around the world, etc. in the coming months.
In short, the world and the flow of goods, as we knew them until a few weeks ago, look different when the current Corona state is at rest.
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