In a Post-Covid-19 World, Should We Abandon Our Longer-term Strategic Planning?

In March 2020, the world was shaken by the Covid-19 pandemic. It’s clear that there will be a long-term impact to the lives and livelihoods of people around the world. Many businesses will struggle, some will make it back with scars to prove it, and others will never return. Through it all, one of the common themes I keep hearing from business leaders is uncertainty or lack of clarity. This comes up most often when discussing the concept of long-term strategic planning and the direction of their organization. I’m often met with some version of, “…during this time it’s really difficult to say what might happen tomorrow so I’m focusing on the short-term – things I can control” or “things are changing so quickly that I don’t know what tomorrow will bring.” During a time like this, should we abandon our longer-term strategic planning and focus on short-term thinking?

Have you ever tried driving down the highway while looking five feet ahead of your car? Sure, you can avoid the potholes and roadkill. You’ll probably even feel like you’re in control, constantly steering around obstacles and pumping the brakes frequently just to stay safe. However, you won’t see the upcoming traffic jam and take the quickly approaching detour before you’re stuck in hours of traffic. By looking out to the horizon and scanning the entire area ahead of your car, you’ll have the ability to continue driving efficiently, safely and increase the chances of arriving at your destination on time.

The businesses that take the time to create or validate their longer-term strategic plans will increase their chances of accomplishing their objectives. This is especially true for those businesses that create clear objectives, consider potential threats to their business and communicate their strategy across the organization. After all, isn’t your ultimate goal to fulfill your mission, vision and make a little money along the way?