Lessons From the Pandemic: Crisis as a Catalyst for Innovation

Board Perspectives: Risk Oversight, Issue 141

Creating a work environment that encourages creativity and innovation is paramount to a company’s agility and longevity. A crisis such as the COVID-19 pandemic is a time when these attributes, latent or not, are put to the test. A facilitated discussion with active directors at a recent National Association of Corporate Directors event in the United States focused on the significance of agility as an important driver of success in a mercurial environment — and how, for many companies, digital maturity and future readiness correlate with the ability to innovate.

Here, we summarize eight key takeaways from the discussion.