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Crisis Can Spark Transformation and Renewal
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Crisis Can Spark Transformation and Renewal

Lars Faeste, Ramon Baeza, Christoph Lay and Christoph Meuter
Boston Consulting Group, 2020
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Editorial Rating

9

Qualities

  • Analytical
  • Applicable
  • Concrete Examples

Recommendation

Lessons learned from companies that performed well after the 2008 economic downturn offer leaders valuable guidance in the face of the COVID-19 pandemic. The top post-2008 performers followed five essential steps. According to Boston Consulting Group senior partners Lars Fæste and Ramón Baeza, and the firm’s Christoph Lay and Christoph Meuter, these companies acted preemptively; kept invigorating their business; held to their key goals; had risk mitigation in place; and “streamlined” operations by leveraging technology. Embrace the authors’ discoveries to position your firm for continued good health.

Take-Aways

  • Lessons learned in the 2008 crisis have value today.
  • Recovery from the 2008 crisis occurred in four phases.
  • Five actions were central to the strategies of the companies that performed best after the downturn.

About the Authors

Lars Fæste, in Hong Kong, and Ramón Baeza, in Madrid, are Boston Consulting Group managing directors and senior partners. Christoph Lay is a Global Business Director in Düsseldorf, where Christoph Meuter is a Senior Knowledge Analyst.

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