In light of the current novel and ambiguous situation, we at Unbox have sought to find answers to some of the most asked or thought of questions. In our recently conducted webinar on the 30th April 2020 ‘UnQuarantine your mind’, we spoke to Bala, the Ex-Managing Director of a Big 4 Audit firm who managed a 3000+ strong organisation across management, risk and technology, and is now a Business Advisor and Leadership Coach.
In the last blog of the ‘Unquarantine your mind’ series we elucidate on the third takeaway from the conversation with Bala.
We are now moving towards a low-touch economy, meaning people are maintaining social distancing while trying to navigate through their everyday work; a scenario wherein face to face interactions are at a bare minimum.
We asked Bala how do you tackle such a situation?
Metaphorically, people are known to be one of the three –
- Ostrich – preserving what we have and hoping for the best. In this case, people take no action. This is the mindset most of us had in the initial stages – extremely hopeful and blinded optimism.
- Bull in a China shop – running helter-skelter, losing your mind, and blindly cutting expenses without any consideration of what is essential and what is not. In this mindset, we feel extremely anxious and react in a ‘fight or flight’ manner.
- Fox – being agile and using the downturn to make your business more effective. In this mindset, we can be more productive now as we are more focused due to lack of travel. Make the best use of the situation, invest in innovation and collaboration across industries.
Blindly hoping that normalcy will be restored is a fallacy. Sanofi and Lin Qingxuan are a couple of case studies of companies that were analyzed and it was found that investing in innovation and radical collaboration yielded fruitful results even in a downturn. The time to strike is now. Think of new ways of collaborating and working, new lines of business – this could bode well for your industry.
Coming up – In our next series, we talk about how do we adapt our mindset in these testing times?