Six best practices to leverage ecosystems and M&A for resilience

The term ‘essential business’ has forever been branded beyond COVID-19. Achieving resilience by increasing an organization’s essentiality requires both addressing current weaknesses and readying for the future by embracing the six key practices of ‘Big C Collaboration’. 

• Ecosystem thinking: Identifying and using the resources of others for competitive advantage
• Strategic leadership alignment: Imagining future scenarios and outlining purpose-driven goals as an integrated executive suite
• Dynamic customer-centric strategy formulation: Organizing around ever evolving valuable ‘jobs to be done’
• Risk-balanced portfolio management: Maintaining the right mix of investments for near and long term
• Multi-modal innovation: Leveraging multiple channels, including mergers and acquisitions (M&A)
• Lean-agile approach: Institutionalizing a ‘build, test, and learn’ approach