Dealing with the emotional toll of the pandemic.
Stagnation is a devastating condition for any business. No enterprise chooses to be stagnant, and rarely does anyone within notice when inertia begins. Still, the effect can launch a downward spiral that can cripple companies, even in the most dynamic industries.
Stagnation has many causes, which can take a long time to do damage. Most common are simple things, such as when a company slows or stops development of new products or capabilities, or when it takes existing customers for granted while not working to develop new ones. Most common is when management stops investing in needed equipment or workers to make the bottom line look better, quarter after quarter. Each of these decisions are made, consciously or not, by management. And while the intentions may have been good, over time they become the root cause of stagnation and can bring a vibrant company to its knees.
Yet stagnation can occur despite management’s best efforts to maintain a focused, engaged and vibrant business. Sometimes external events create an environment that must be dealt with. In the meantime, corporate progress falls by the wayside. Covid-19 is just such an event.
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