The Chartered Institute of Management Accountants (CIMA) has launched Reimagine business resilience in the Covid-19 World, a free resource to help organisations navigate the short- and long-term ramifications of the Covid-19 pandemic.
The guide has drawn on the experience of CIMA members in business and finance, and the toolkit provides business leaders with three tools to plan the transition to a post-Covid-19 reality and build business resilience in uncertain times.
The tools are:
The CGMA Horizon Scanner, which helps organisations explore possible future scenarios and what steps they need to take to safeguard their future, integrating elements such as supply chain, the regulatory environment, or customer behaviours.
The CIMA Strategic Scorecard, which is designed to help organisations design their future strategy and focus on key issues (e.g. competitors, cashflow, project feasibility and risk management) to foster recovery and growth.
The CGMA Business Model Framework, which encourages organisations to ask future-focused questions around their business model and how they create value to avoid making decisions could potentially lead to future corporate failure.
Read the full article in the International Accounting Bulletin here