Resilience guidebook: do's & don'ts
To facilitate implementation of the recommendations that follow from our study, we have crafted a resilience guidebook. This guidebook highlights the specific "do’s" (Call to Action) and "don’ts" (Common traps) for successfully nurturing corporate venturing during, but also post-crisis.
To prepare themselves for crisis, companies are invoked to focus on change in three important areas: mentality, process and strategy. Specifically, we recommend that firms change their mentality (i.e. reflect, think positive and long-term, stay connected to existing networks), processes (i.e. create sophisticated communication, flexible and digital processes) and strategies (i.e. put innovation and CV on the strategic agenda, create market-driven investments and strong, diversified portfolios) to increase their resilience.
However, as a crisis imposes an immediate danger to firms, it is also paramount to avoid the most common traps. The guidebook concludes with four common traps of which companies should certainly be aware of during the crisis.