Restarting the economy: a long process
Updated: May 25, 2021
My previous posts focused on social businesses like restaurants, which were more accessible, simpler, and easier to model. This post shares my findings applying our Recovery Framework to large business operations. There are clear disconnects between politics, business, and the realities of reopening the economy. For politicians, reopening the economy is a decision implemented through a series of decisions and events. In practice, it doesn’t work that way. For most businesses, it will be a long, complex, multidimensional process that will strain their competitive strategies, business models, capital, and other resources.
Time is the enemy. Christmas Season is around the corner. Millions of businesses and jobs in the first quarter of 2021 are riding on consumer demand and businesses' ability to meet them. Businesses in turn will be relying on manufacturers, providers, and supply chains battered by the lockdowns. These factors were evident during recent visits to large grocers, health clubs, and retailers. Political leaders wresting with restarting their economies must recognize that it's no event. This will be a long, complex, and difficult process that will stretch beyond their reach.