COVID-19 Series: Scenario Planning
Christine Edmonds | April 15, 2020
A summary of some of the learnings and best practices we have aggregated across our portfolio related to Covid19 scenario planning and communication, including a detailed case study
The specifics of scenario planning will vary by company, however the overarching goal is universal to proactively outline and align on a thoughtful framework to address varying degrees of potential impact. While some companies may immediately cut marketing + other costs, we typically see a clearer sequence in managing costs related to personnel, with CEOs doing their best to mitigate RIFs until absolutely necessary. There are a number of both leading and lagging indicators that should be monitored (ideally on a daily basis) in order to understand the evolving impact of this environment and which scenario feels most likely at any given time.