Expert Tips for Business Leaders in the Post-COVID Era
Sari Kuvaja, Leo Stranius, and Jirimiko Oranen, experts at T-Media Relations, spoke about the world after the coronavirus pandemic during a webinar on April 16, 2020. They offered advice on how to responsibly revitalize an organization for this new era.
In her opening remarks, Sari Kuvaja, Head of Sustainability Services at T-Media, reflected on the role of companies during the COVID-19 pandemic, as well as in the aftermath.
According to Kuvaja, companies are judged based on their actions, and the coronavirus pandemic does not change this basic premise. However, it has offered companies an opportunity to give concrete expression to their social role: many have nimbly adapted their production and begun manufacturing products needed during the crisis or offering services that help and support those affected by it.
“The discussion about the purpose of companies has been lively even before the pandemic, but this crisis will certainly deepen that discussion. Now, people are closely watching to see whether, in the midst of the crisis, an organization is merely trying to save itself, or whether it is also taking into account the needs of its stakeholders and society as a whole in its actions,” says Kuvaja.
“The way a company serves the needs of society and the environment through its business operations is at the heart of strategic corporate responsibility. If this can be achieved during the pandemic, why couldn’t it be achieved afterward as well?”
According to Kuvaja, the COVID-19 crisis has brought to light three interrelated themes at both the individual and organizational levels: vulnerability, our dependence on one another, and inequality.
“For example, the vulnerability of supply chains during a crisis shows that we need each other and are dependent on one another. And even though anyone can get COVID-19, the situation is still not equitable. Not everyone has the same access to treatment or the same chances of recovery.”
Kuvaja pointed out that reducing inequality is one of the most effective ways to build resilience and the capacity for renewal in preparation for the future.
Good and bad news for the climate
Leo Stranius, Head of Sustainable Future at T-Media Relations, continued the discussion on sustainability with a presentation titled “The Coronavirus and the Climate Crisis.” Stranius had both good and bad news for his audience.
“Global emissions and the consumption of natural resources have decreased during the COVID-19 crisis. Another piece of good news is that our crisis preparedness is improving. This situation has shown that we have the capacity to act and that people adapt to change when the going gets tough,” Stranius notes.
“Eco-efficiency has also increased during the COVID-19 crisis: for example, remote connectivity and capabilities have improved.”
On the other hand, dealing with the COVID-19 crisis is taking up so much attention that the climate debate is inevitably taking a back seat.
“At the same time, the ability to invest in clean technology is diminishing at precisely the moment when we are facing the most critical situation in terms of the climate crisis. International cooperation may become more difficult if countries turn inward and the winds of nationalism begin to blow.”
Stranius reminded his audience that the key issue from a climate perspective is how the post-COVID-19 economic recovery will be managed. Although attention is now, quite understandably, focused on social and economic concerns, the climate crisis also remains unresolved.
Anticipate the future and build resilience
The webinar concluded with a presentation titled “Futures 2030” by Jirimiko Orasen, CEO of T-Media Relations.
Oranen emphasized the importance of foresight both during a crisis and in preparing for future crises.
“Although no one can predict the future with 100 percent certainty, we can use the methodology of futures studies to assess probabilities,” Oranen notes.
Based on a morphological analysis, Oranen presented four possible future scenarios that take into account likely trends in the operating environment in the post-COVID era: a negative spiral, global harmony, a rat race, and local heroes.
Webinar participants had the opportunity to assess which of these visions of the future seems most likely at this moment.
In addition to forecasting the future, Oranen emphasized how important it is for companies to build their resilience. He pointed out that the coronavirus pandemic will certainly not be the last crisis to shake societies around the world. For example, the use of the planet’s resources is an increasingly acute problem for which no solution has yet been found.
“It’s worth considering how businesses have prepared for future crises. A crisis like the COVID-19 pandemic serves as a reminder that resources must be deployed flexibly. In the current situation, many companies are taking a fresh look at their balance sheets. For example, many companies are now evaluating the size of their cash reserves in a very different light than they did before the COVID-19 crisis.”
"After the Coronavirus: 3 x 3 Tips for a Sustainable Future"—our webinar generated so much interest that we’re hosting it again on Thursday, May 7, 2020, from 10:00 to 11:00 a.m.
Sign up here!
You can also contact us directly if you'd like to discuss your organization's preparations for the post-COVID era:
- Leo Stranius, 040 754 7371, leo.stranius@reptrust-staging.fi-p.seravo.com
- Sari Kuvaja, 040 528 2820, sari.kuvaja@reptrust-staging.fi-p.seravo.com
- Jirimiko Oranen, 040 756 6655, jirimiko.oranen@reptrust-staging.fi-p.seravo.com
