Is the wolf scratching at the door? Lessons learned so far from the COVID era...
— 11 experts shared their view
The past six months of the COVID-19 pandemic has forced companies and individuals to reconsider not only what they do, where they do it, and how they do it, but also why they do what they do (or don't do what they don't do). In other words, it has forced executives to reflect more intensely on both the external environment in which their firms compete and the ways in which they do so. Strategic thinking, management, and implementation have never been more important than now in the hospitality industry as countless firms across the world are fighting for their survival. As Professor Richard Rumelt once wrote, successful companies may not actually engage in strategy work until the "wolf is at the door." In today's COVID-19 world, not only is the wolf at the door, but he is scratching to get in, ready to blow the house (or hotel) down. The question, therefore, is what have you and/or your firm learned most about your business strategy, and what are you doing about it?
Managing Director, Les Roches
The pandemic can be viewed in two ways by any business sector: either as a crisis or as an opportunity. Today, the hospitality industry and the education sector can embrace the digitalization age, one of the most significant trends, and transform.
Due to COVID-19, Les Roches, like many other educational institutions worldwide, had to close temporarily and shift to remote learning. In order to cope with this situation, we quickly implemented solutions including digital textbooks accessible 24/7, content accessible via online platforms, videoconferences, and online assessments. As we were in the process of implementing different pedagogical tools to support our teaching methods, the COVID crisis allowed us to accelerate the process and validate our development choices.
Remote learning became a necessity and it meant not only bringing the curriculum online, but also using the latest technologies such as Virtual Reality and Artificial Intelligence to enhance the study experience in order to maintain and ideally exceed our usual standards. At Les Roches, we keep implementing new technology in our educational system. For example, an augmented reality wall is on campus and 3D printers are available for students, among other equipment. At the moment, we are also experimenting with the use of virtual reality in virtual campus visits as an alternative to Open Days, in order to create an immersive experience for students and families wishing to visit the campus.
Embracing the best of the “real” and ''virtual” worlds in order to provide our students with the best tailor made experience is one of the biggest lessons we have learned.