Finance flash: the TOP-10 articles of week 12, 2020
Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.
1. COVID-19: Implications for business
The coronavirus crisis is a story with an unclear ending. What is clear is that the human impact is already tragic, and that companies have an imperative to act immediately to protect their employees, address business challenges and risks, and help to mitigate the outbreak in whatever ways they can.
2. Inc.'s Essential Guide to Getting Your Business Through the Covid-19 CrisisThe Essential Guide to Business Continuity
Inc.'s solutions center offers expert advice on handling panicked customers, interrupted supply chains, webinars, Zoom meetings, hyper kids, and a work environment that changes by the hour.
3. 3 ways to tackle the coronavirus’s economic risk
The COVID-19 pandemic is keeping CFOs and CEOs up at night as the leading risk facing the global economy. A global recession, affecting developed and developing countries, seems inevitable in the first two quarters of 2020, according to Tenpao Lee, Ph.D., a professor of economics at Niagara University in Lewiston, New York.
4. Most airlines will be bankrupt by May, experts warn
The Centre for Aviation (CAPA) has suggested that by the end of May most airlines will have gone bankrupt. The industry body has called for a coordinated government and industry reaction to the coronavirus pandemic, noting that cash reserves are running out -and in some cases, have run out – with no relief on the horizon.
5. 5 strategies to manage your newly remote employees
Effective remote working teams don’t just require the right technology—they require the right leadership.
6. Bill Gates and Elon Musk Just Issued Very Different Responses to the Coronavirus. It's a Lesson in Emotional Intelligence
Two brilliant minds. But while one response is potentially dangerous, the other could save millions of lives.
7. COVID-19: Now is the Time to Have a Clear Internal Communications Plan in Place
As of March 17, 2020, there were 180,000 cases of COVID-19 worldwide. Significant impact is anticipated for employers as the virus spreads both from a humanitarian support AND workplace perspective. During times of uncertainty, it is imperative for employers to have a plan in place to communicate directly and quickly with their key constituents – in this case, your employees.
8. Why Leaders Should Embrace Their Dark Side
To many, John seemed a highly ethical person. Disciplined and hardworking, he graduated from an Ivy League college and joined an investment bank. Keen to prove that the financial misbehaviour that had tarnished the profession had been the work of a few bad apples, John became actively involved with a number of NGOs, which amplified his already stellar reputation.
9. The Coronavirus Crisis Doesn’t Have to Lead to Layoffs
During a crisis, the path between corporate denial and layoffs is often a short one. For weeks, our corporate clients and contacts waved off concerns about a potential economic impact from the Covid-19 outbreak. Then something changed around March 9. First, our contacts told us they were restricting visitors to their offices and encouraging remote work. Now, only a few days later, we are hearing that many them are considering layoffs to ensure they make it through the crisis — and a recent survey found that a vast majority of corporate leaders are considering some sort of financial action as a result of the pandemic.
10. Good Controller/Bad Controller
The “goldilocks” controller has the right mix of skills and interests for your current challenges with the ability to scale the company.