Are you winning or losing to the coronavirus pandemic? The economy, businesses, and lives have been disrupted. Now is the time to put in place a response strategy to respond to the covid19 challenge. The good news is the covid19 risks are systematic – or general risks that affect all the businesses. Unlike unique or unsystematic risks that affect a sector or business, covid19 has affected all companies in equal measure. Covid19 happened suddenly. It is like an airplane that is moving normally and suddenly enters think clouds that cause turbulences, and all the passengers in the aeroplane hold on…
Is your strategy effective? What is your covid19 response strategy?
Every challenge calls for a strategy – the process of making choices on how to win. Coronavirus times like these challenge us to be the best. You can start by defining your strategic challenge and clear choices to win. What are the things you will do and the things you will not do? You cannot win by doing everything. You must choose your battles carefully. Many families are struggling with what to eat. People are under lockdown in their houses, and they seem to be forgotten. Others have bigger problems – their shops or businesses are under lockdown and every…
Covid19: Will President Museveni lift the lockdown?
Uganda’s President, Y. K. Museveni is expected to address the nation on 28th April 2020 on the state of the covid19 pandemic in Uganda. Like many other countries, Uganda has been under lockdown since April 1st, 2020. People are all eagerly waiting for the President’s address. We expect the President to announce easing on the lockdown. Many people are suffering from what is being referred to as “lockdown” fatigue – a situation of being tired of staying at home, doing nothing. No work means no income. It has been a tough period. The strategy by many countries was clear: Social…
Covid19: A time to change or be forced to change
We are all heading into the future, that is where our thinking should focus on. No one can predict the future with precision. We use historical data to anticipate what will happen. Since pandemics do not have specific characteristics, no one would have predicted when the coronavirus pandemic would happen. It took the world by surprise. No wonder all countries badly affected, with death numbers rising by the day. In the United States alone, the total number of covid19 death is past 50,000! Globally, the death numbers keep rising every other day. That is a huge loss to the world.…
A lesson Ugandans need to learn from COVID 19 is to plan for a bad day even when it may take one thousand to happen!
The value of strategic planning and self-discipline are points that most Ugandans have delegated to some category of people, yet we all need these qualities at all times. There are things we learn in school while others are out of common sense. We need to keep in mind that without self-discipline, self-motivation, a culture of financial saving and strategic planning; then we are in for a rude shock. Some of us never thought that one day we could find ourselves living in bad days almost every day. Were most of us prepared to face these bad day? The answer…
Have you considered the impact of covid19 on your current strategy?
No company would have planned and considered the impact of the coronavirus pandemic on the business. Many leaders finalize their planning and work plans by December of the year – where they review the strategy, scorecard targets, budgets, work plans, and planned outcomes against what was achieved. By December 2020, coronavirus was not yet a big thing. Few companies, if any, could have anticipated and adjusted their strategies and financials accordingly at the time. Now that covid19 has happened, leaders must urgently go back to the drawing table and make updates to their strategy, and work plans or business plans…
