In early 2020, Airbnb was headed for a banner year — bookings were up, expansion plans were in place, and an IPO was set for the spring. Then Covid hit, and more than $1B of bookings disappeared, expansion plans were postponed, and one-quarter of the workforce was cut. However, by the end of the year, revenues had recovered, and the company completed one of the most successful tech IPOs in history.
6 Principles to Build Your Company’s Strategic Agility
Lessons from Airbnb, Qantas, Disney, and other companies that successfully navigated a year of disruption.
September 02, 2021
Summary.
Strategic agility is the ability to improve performance — not just survive but thrive — amid disruption. Companies that successfully navigated the Covid-19 crisis identified when to deviate from their strategic plan and adapt to the changing environment. The authors identified three distinct ways they did this: First, they were nimble enough to avoid the worst impacts; second, when they were hit, they were robust enough to absorb a lot of the damage; and third, they were resilient enough to accelerate forward faster and more effectively than their peers. They offer six principles to help companies boost their strategic agility in these three areas.
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New!
HBR Learning
Decision Making Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Decision Making. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Practical ways to improve your decision-making process.