Establish strategic partnerships for survival rather than based on the highest ROI
Right now, and going into the post-COVID-19 workplace, the most important objective is to survive. For instance, instead of the pre-COVID-19 practice of establishing partnerships based on getting the best deal or leverage, smart businesses will need to be more strategic when choosing partnerships and alliances. They will have to choose between transactional and essential relationships.
It’s no longer a matter of the maximum return on investment. It’s about partnerships that will hold, even in the worst post-COVID-19 scenario. Instead of asking “what is in it for me”, companies will have to start asking “what if?” For instance, what if there’s another wave in the horizon? How would that affect operations?
It might even be expedient to turn down a lucrative partnership and instead get on board with a company that will stay with you even in the face of delayed payments and missed shipments. This is critical especially at a time when states and governments can abruptly declare lockdowns and curfews.
