Jim Hagemann Snabe on Managing COVID-19 in Business

With much anticipation, we had Jim Hagemann Snabe as speaker for our webinar Wednesday, April 15th. This webinar was focused on managing COVID-19 in global corporate businesses.

How can business leaders tackle COVID-19? 

The COVID-19 wave sweeping across the world is posing serious challenges to countless businesses. What is needed from leaders in these disruptive times? How can they manage their businesses through COVID-19 and the substantial challenges coming along with the crisis?

Jim Hagemann Snabe, co-author of the book “Dreams and Details” and co-founder of the Academy, offers insights. As chairman of Siemens and Maersk he will share his experiences of how the COVID-19 crisis and its challenges can be responded to. The webinar will start with a presentation and then open up for a Q&A-session, where attendees will be able to ask questions and enter an open dialogue. This offers a unique opportunity for leaders of all business sizes to learn from the experiences of one of the top-level business leaders and to obtain ideas and inspiration for how to manage the crisis.

Speaker:

Jim Hagemann Snabe

Chairman of the Supervisory Board of Siemens AG and the Board of Directors for A.P. Møller–Mærsk.
Furthermore, co-founder of Dreams and Details Academy and a member of the Board of Trustees at the World Economic Forum.

 Agenda:

  1.     Managing COVID-19 in Business: Jim Hagemann Snabe, Chairman of Siemens and Maersk, provides insights on tackling the crisis for business leaders in a global market.
  2.     Open Dialogue: Ask questions and join an open discussion between Jim and the participants

 

Questions we did not cover in the webinar:

1) Nobuyuki Kaneshige – “Do you see an equation between COVID-19 and CO2 Emission” 

I don’t see an immediate equation, but I argue that we see COVID19 as acceleration to lowering CO2 emission.

2) Simon Røhl Kriegbaum – “Hi Jim, you mention that E.G. Singapore has used technology to identify where the risks are biggest in terms of spreading COVID-19. Do you have the opportunity to elaborate on this? Technology-wise”

There are location-based tracking applications available that allow you to get a notification in case you have been close to someone who has been tested positive for covid19. 

In using this, there are two approaches: A centralized government approach which is efficient but increases privacy questions. And then what I believe possible; a decentral approach where each individual gets a notification. 

For this to work, there is one prerequisite; everyone must use the same application.

3) Pauline Manos – “What kind of scenario planning is happening around potential increased social unrest?”

I am not aware of any scenarios, including social unrest. All scenario planning is about minimizing the economic impact for everyone to avoid any social unrest.

4) Peter Damm – “What is your comment to the recommendation from Ursula von der Leyen that the E.U. countries have to invest in E.U. companies to avoid China to make further buy-ups in Europe?”

The current reduction of market cap in companies worldwide makes companies targets for acquisitions. Therefore, it is relevant to consider how to avoid losing critical companies due to the short-term valuation crisis.

5) Den Howlett – “How do you change the business culture (more generally) from short-termism to a long-term view? And will the markets reward this new future?”

As mentioned in my discussion, I believe the COVID-19 crisis demonstrates the difference between companies with a strong purpose and long-term orientation versus those who react on short term issues. And hence I hope that the COVID-19 crisis further enhances purpose orientation, what we call Dreams in Dreams and Details, and unleash human potential to find ways to overcome short term issues.

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