COVID-19: A Press Review for Businesses (updated March 23)
Date: March 22, 2020
COVID-19: THE BEST ARTICLES PUBLISHED SO FAR. FOR BUSINESSES.
With the help of our state partners, we have created a list of resources and relief programs available to help U.S. businesses cope with the crisis. We’ll keep it updated as new announcements are made by local, state, and federal organizations. See the page on Export Connect HERE.
And follow us on TWITTER (@Gettingtoglobal), FACEBOOK (@gettingtoglobal), LINKEDIN (@Getting to Global), and INSTAGRAM (@gettingtoglobal). You can also subscribe to our newsletter HERE (see bottom of the page).
Unless you’ve been living under a rock during the last few weeks (in which case: Hi! Welcome back…), you’ve heard everything you need to know (and didn’t want to know) about the new coronavirus, COVID-19. The media, social platforms and others, have been releasing continuous updates on the outbreak, including the huge impact it’s having on the financial market and small and medium businesses. And this impact, especially on companies, is multifaceted.
Businesses whose supply chain relies heavily on China, have to face probable, or already occurring, supply shortages. The cultural industry is facing monumental loss of income. Street-front retailers show a net decrease in visitors and sales and must find ways to protect their employees. IT and consulting firms are implementing last-minute and ill-organized crisis plans. Freelancers are suddenly faced with an empty inbox.
It’s easy now to declare, “We should have been prepared for this.” The truth is, a pandemic like the one we’re facing is always a distant possibility, one that should be considered in your crisis management plan. But honestly, nobody is in their right mind is acting every day as if the next crisis is right around the corner. That’s why having a strong plan is always the solution. It won’t help you deal with everything, but it will help you go through a crisis more easily.
A few weeks ago, we published an article about the importance of having an economic and political assessment. Now, we wanted to help you find the best information out there to help you deal with the actual crisis, but also to help you prepare for the next. Because who knows … right?
So here’s a brief press review prepared for you by our team here, at Getting to Global.
THE BEST ARTICLES TO MANAGE THE CURRENT CRISIS
Harvard Business Review — By Martin Reeves, Lars Faeste, Cinthia Chen, Philipp Carlsson-Szlezak, and Kevin Whitaker — March 2020
China was the first to experience the crisis and its impact. HBR analyzed the current Chinese situation to extract 12 early lessons for leaders elsewhere. “To be sure, China has its own distinct political and administrative systems, as well as social customs, but many of the lessons here seem broadly applicable.” [10 min. read]
Forbes — By Alap Shah — February 3, 2020
This article presents a short snapshot of what companies from all around the world are doing to deal with the crisis. It doesn’t go into detail, but it will give you an idea of how companies are responding to protect their teams and keep their operations going. [15 min. read]
By Alexandra Ungureanu (on LinkedIn) — March 12, 2020
“As your organization works to figure out the business implications of COVID-19, marketing teams should jump into action, changing their digital campaigns and advertising.” We say that the remedy to boredom is action. A lot of your projects are being canceled and your team is stuck home? Why not rethink your marketing? [5 min. read]
Entrepreneur — By Aparjita Saxena — 2020
Entrepreneurs put together a handy guide, “on best practices companies and human resources departments should follow to help their employees stay healthy and infection-free.” Most of all, it’s a great guide for small businesses trying to figure out how to manage the crisis. And they don’t overlook important details, such as the importance of having an effective leave policy that encourages sick employees to stay home. [4 min. read]
U.S. Small Business Association (SBA) — 2020
The U.S. Small Business Association (SBA) published a guide containing everything small and medium businesses need to know, including loan programs, access to capital, and local assistance. If you’re in the United States, this is THE page to keep in your favorites. [10 min. read]
Guide: How COVID-19 delays could affect your supply chain from contracts to insurance and custom clearance
TradeReady by FITT — by Rahim Mohtaram — March 12, 2020
Fitt offers here a much-needed guide on the impact of COVID-19 on supply chains and on how to deal with the issue. “Most companies love win-win cooperation, but we might not win too much in the current situation. Survive-survive is a more reasonable and logical strategy for some businesses these days. Those companies who like to gain more by employing the win-loss strategy will be accused by society for neglecting social and corporate responsibilities. It’s not a good time to pursue profit over social well-being.” [10 min. read]
California International Trade Center (CITC)—Updated Frequently
The CITC has created a page to keep businesses updated on COVID-19. They also offer a wide range of free webinars on global trade and ecommerce and a list of resources guides. They target first California businesses, but most of their resources are useful statewide. [Lots of different resources]
THE BEST ARTICLES TO PREPARE YOURSELF FOR THE NEXT CRISIS
Harvard Business Review — By Cali Williams Yost — February 28, 2020
The HBR offers here a step-by-step process to follow to prepare your organization to not only flexibly respond to the current disruption, but also to use it as an opportunity to reimagine working remotely. The guide was written before the crisis became a reality for most of us, but if it doesn’t help you now, it could help you face any future coming crisis! [5 min. read]
McKinsey and Company — By Matt Craven, Linda Liu, Mihir Mysore, and Matt Wilson — March 2020
“This article is intended to provide business leaders with a perspective on the evolving situation and implications for their companies.” It gives an overview of the crisis as it evolves, with the potential economic impacts, and how to face what’s coming. And most importantly, they keep it updated! [30 min. read]
PWC — March 2020
PWC gives us an insight in crisis management. They spoke to 164 global CEOs about their views, struggles and approaches to crises and they offer here perspectives on what organizations can do to better prepare themselves for whatever crises may lie ahead. [15 min. read]
Ivey Business Journal — By Christine Pearson — February 2020
“As recent history has shown, many organizations that have prepared for blackouts, natural disasters and even the Y2K threats have been able to manage when the unforeseen become reality. The lesson we can all learn—and learn to apply—is that preparing for the unseen calls for versatility. It is the very foundation of organizational crisis management.” The guideline included in this article is a good start if you want to implement a crisis management plan. [15 min. read]
HubSpot — By Kristen Baker — April 2019 (updated March 2020)
The crisis management process involves much more than managing the crisis itself, even if that step is arguably the most important part. Hubspot has created here what is probably the most exhaustive guide we’ve seen offered for free. You’ll find here all the steps, including the development of the crisis management plan itself, and also how to prepare your teams and your jobs. [10 min. read]
THE BEST ARTICLE FOR REAL-TIME DATA
Worldometer — Updated everyday
The Worldometer is run by an international team of developers, researchers, and volunteers. Their main goal is to make statistics available in a thought-provoking and time relevant format. Worldometer is owned by Dadax, an independent company, and they claim to have no political, governmental, or corporate affiliation. And their COVID-19 coronavirus statistics page is the most complete and up-to-date we could find.
THE BEST PAGES OF THE CENTER FOR DISEASE CONTROL AND PREVENTION (CDC)
KEY FACTS — March 2020
The CDC created a list of key facts that are worth spreading. You can also download the printer-friendly version and post it. [5 min. read]
ABOUT — March 2020
Their page on the virus itself also contains a lot of information about prevention and treatment, stigma and reliance, etc. Here again, you’ll find printer-friendly version you can post. [5 min. read]
This page contains pretty much all the relevant and up-to-date information we have on the virus and the situation in the U.S. [11 min. read]
INTERIM GUIDANCE FOR BUSINESSES AND EMPLOYERS TO PLAN AND RESPOND TO CORONAVIRUS DISEASE 2019 (COVID-19)
This page has been created to help employer plan, prepare, and respond to COVID-19. “The following interim guidance may help prevent workplace exposures to COVID-19, in non-healthcare settings. (CDC has provided separate guidance for healthcare settings.) This guidance also provides planning considerations for community spread of COVID-19.” [10 min read]
THE BEST ARTICLES FOR A MORE LEGAL PERSPECTIVE
MSK — By Susan Kohn Ross—March 16, 2020
A much needed legal perspective for businesses concerning the force majeur clause. Can you invoke it to get out of a contract? “Is that language sufficient to permit cancellation under the current circumstances of the COVID-19 outbreak? Probably so, since it mentions pandemics and the World Health Organization has labeled the outbreak as such, but would this language have been broad enough to cover the situation a month ago? Maybe not.” [8 min. read]
McDermott put together a multidisciplinary team to create an extremely interesting FAQ for employers, including multinational employers. They answer everything from employers’ obligations, laws and regulations, what to do with a sick employee, etc. A must read. [30 min. reading/FAQ]
THE BEST ARTICLES IN THEIR OWN CATEGORY
TradeReady by FITT — by Peter Gray — March 5, 2020
This article is extremely interesting for those of you already exporting in Asia or thinking about it (in the current COVID-19 context). The writer is a long-term resident of Singapore. “The perfect storm created by the U.S.-China trade war and compounding COVID-19 virus will affect current and future trade, development and FDI decisions. Your Asia development strategy should include the ASEAN region to capitalize on immediate and emerging growth opportunities and to diversify risk.” [9 min. read]
UCSF — By Nina Bai — March 6, 2020
This one is a bit more personal… But whether you’re an employee, a CEO, a freelancer or an entrepreneur, the current situation is probably putting a lot of new stress on you. And dealing with this stress is paramount to crisis management as a whole. So here are a few simple tips to help you clear your head. [3 min. read]
BuzzFeed — By Anne Helen Petersen — March 11, 2020
We all have a role to play in the current pandemic. “No individual can stop the coronavirus from spreading. But we can make crucial changes—big and small—to protect and help the people around us.” We all need to be reminded of this. And this is why we think this article is a must read. [10 min. read]