To Survive COVID-19, We Need to Manage the 3 Cs — Costs, Capital, and Cash Flow

Note: This article originally published by my colleague David Tang.

The entire world is facing the same crisis right now. As of the publication of this article, there are close to 100M Coronavirus cases worldwide, of which 75% are active cases. For almost all countries, the case growth is still growing exponentially on a day-to-day basis.

With entire nations under lock-down, many industries and businesses have been grinded to a halt. Most businesses are finding it difficult to stay afloat in these never-before-seen times of extreme difficulty.

Those organizations that will survive are ones that can effectively manage their costs, capital, and cash flow. Below, we have highlighted several best practices from the Flevy Marketplace that discuss these areas:

  • Cost Reduction Opportunities
    Cost Reduction will be at the top of the agenda for every organization. So, when it comes to Cost Reduction, where are the areas with we this greatest potential in savings, while minimizing negative impact to our operations and our employees? This framework identifies up to 45 Cost Reduction opportunities across the Porter Value Chain, categorized into the areas of Enterprise-wide Opportunities, Asset Management Opportunities, and Function Specific Opportunities. For each Cost Reduction initiative, specific examples are provided, along with projected potential savings.

For additional frameworks and templates relevant to the COVID–19 crisis, take a look here: Coronavirus Business Resources.

Do You Need Coronavirus Trend Data?

Have a look at our free online tool, Coronavirus Dashboard. This dashboard presents case trend data and news for the Coronavirus (COVID-19) spread at the regional, country, and territory levels. We track numerous metrics that other websites do not. All data can be easily downloaded for you to perform your own scenario analyses.

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Mark Bridges

I blog about various management frameworks, from Strategic Planning to Digital Transformation to Change Management. https://flevy.com