What can Leaders do to Navigate Through Long-Term Uncertainty?


To scale a business is not easy, and you know what it means to taste a bit of growth increase. You'll not want your growth to fade, and so you must fight hard to maintain your growth at all times and all costs.

If you have been a business owner for quite some time, you will understand that there are certain unforeseeable uncertainties. You may not read what the future holds, but at least there are smart business choices you can adopt to ensure you are not affected.

In this post, we will look at what leaders can do to navigate long-term uncertainty. 

  1. Identifying the often-missed opportunities of 'not knowing'

Act decisively 

 Let's face it: this is a time we are working under pressure, and you don't know what the future holds. Any misstep caused by a leader can do severe damage to an organization or business. And if you love catching headlines, at least you should know that just in time news requires some calculative response as a leader.

There's a need to act decisively as we figure out these dark times together. But it's also essential that we act in a way that doesn't just cater for the short-term, but long-term, as well. That said, it will be so wrong to overlook long-term strategies thinking that they are only useful during non-pandemic times.

Every development that we realize must be treated with the utmost importance. Leaders must thoroughly evaluate these developments and devise a way to bypass the apparent obstacles. Think of it this way: what does the new development hold for the future of our business? How will this impact the economy?

 Be agile

As a leader, you must first make sure that you have an agile organization that is ready to respond to any uncertainty. We are living in a world that's more connected than ever. What affects a region can equally affect you as a business. Right now, we are all in the COVID-19 pandemic together - no part of the world feels safe. That's enough proof that uncertainty in one region can extend to another area.

That is why you must develop well-planned strategies as a company that allows for flexibility during uncertainties. Organizations have now resorted to being more nimble and better prepared for the worse. For example, most companies are now carefully checking out their portfolios to ensure that they are employing the right strategies. Just to let you know, 87 percent of organizations are now planning to divest assets in the coming two years. 

 2. Finding gold in the 'gap' between the problem and finding the solution

Prioritize your people 

 Even as you take steps to prepare your organization, you must give priority to your people. Your employees are the lifeblood of your business, and without them, your organization cannot survive. That said, your employees are also going through hard times. They are worried about political uncertainties, personal pressure, hard economic times, etc.

Make sure that your employees feel safe, motivated and that you care about them even during uncertainties. Make them feel that they are essential to your organization and that without them, there's no success. Here are 5 ways to motivate staff during COVID-19:

1. Provide professional development opportunities for staff reminds them that there will be a future for them, the company, and the world at large

2. Temporarily reorient the docket, assigning tasks that can be done out of order, or with a more relaxed timeframe, because of the work from home order. 

3. Pay attention to employee concerns can help businesses react to challenges before they escalate

4. If a business is still operating on-site, this means prominently placing hand sanitizer, soap, gloves, and masks for staff use

5. A motivating employer will remain calm, communicating a clear plan for forwarding momentum, even as they acknowledge changes to business as usual

Capitalize on workforce data

Thanks to the rapid growth of digitization, which is making operations move more smoothly and efficiently. Through digitization, organizations can now make more informed decisions as required by the labor market transparency. Additionally, this digitization also helps employers reevaluate work structure, know what roles are done and why.

Digitization can help in evaluating the changing demographics and knowing what can be done. Finally, data insights can be used to provide more in-depth recommendations to steer a business during uncertainties. 

 3. The critical role of higher education in a time of uncertainty

 Nurture learnability within your organization

Colleges and universities in the United States cannot know when they will open again to normal activity or to what extent education as usual will resume. But, online education continues to bloom. 

Staying busy and productive will not only help your company long term, but it will also give everyone a sense of purpose. Providing training / e-learning is sure to help everyone's mental health and wellbeing.  The HR department can invest in training employees during the pandemic for the future. Coordinate with the HR department to introduce specialized training for the learning of new skills. By nurturing learnability within your organization, you will be reducing the vulnerability that may occur when uncertainties emerge.

Now is the perfect time to invest in professional and business development.

An MBA has a role to play 

There's no doubt we are living during uncertain times. And as such, you need to be fully equipped to deal with any uncertainty that may come. Today, the demand for an MBA has been on the rise, and you may need it too.

A Master of Business Administration will help you get the knowledge and experience you can use to steer organizations and businesses to the next level during these uncertain times. Even more, you will acquire decision-making skills that will help you in making rational decisions for your organization.

An Online MBA will take you 18-months to complete and it's worth your time considering that you'll need business administration skills to help you navigate long-term uncertainties.

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