From the onslaught of Covid-19, to various social and political movements, 2020 has been a year of unprecedented events in the world and in the business management industry. Keeping teams and clients focused, on-track, and motivated, while navigating through these events and anticipating upcoming changes are more challenging than ever.
In the first panel presentation of the ‘Future of Business Management’ Summit, Rachel Martinez, Partner at Savitsky Satin Bacon & Bucci (SSBB), Sally Velazquez, Founder & Partner of Empower Business Management, Greg Getzinger, Partner at Gursey Schneider, and Anthony Davenport, CEO & President of Regal Credit Management, discussed the current state of business management, how to navigate through these challenging times, and how the industry will evolve as a result of the changes which are happening today. Davenport, who moderates the discussion, poses several questions to the panel, and helps to reveal key insights into these topics.
What are some of the permanent changes that will occur as a result of Covid-19 in terms of the industry itself?
According to Velazquez, virtual work will likely continue for the foreseeable future. The virus has forced everyone to adapt to working remotely, something which likely never would have been attempted before. One positive gain from this remote setup is that it now allows a client to meet with their entire team via a virtual meeting. Velazquez has been able to experience first-hand participating in a meeting where her client, along with her, the client’s lawyers, agents, their label, etc…were all in attendance in one meeting together. This allowed for the entire team to be fully aligned at once, and reduced/eliminated the chances of miscommunication on particular topics.
How has the Black Lives Matter (BLM) movement impacted the client’s way of thinking?
Unsurprisingly, clients across the board have been impacted by the BLM movement. This has really led them to think about their current network and associations, and how to increase their exposure to, and support of, black and other minority businesses and individuals.
Martinez explains that at her firm, they didn’t necessarily have the resources to provide her clients with people of color in certain areas, and this led her to go on a quest to expand her list of contacts. Her clients are also increasingly informing her of their preferences to work with minorities.