Pub. 2 2019-2020 Issue 3

4 Craig Bickmore, Executive Director Companies that change may survive, but companies that transform thrive. Change brings incremental or small-scale adaptations, while transformation brings great improvements that ripple through the future of an organization — Nick Candito continued on page 6 Transformation and Thriving D o you feel unsettled by everything that is currently going on? It’s no wonder if you do. Many of our dealers are facing unprecedented obstacles, and they are working to ensure the survival of businesses that provide livelihoods for many people. While this is the time for us all to be mindful, it is also a time for action. A crisis like the one we’re currently experiencing requires quick thinking at a time when no one knows what will happen next. However, making the right decisions has never been more critical. Our industry has been called upon to change, and I do not doubt that the dealers will answer the call by transforming. Dealers are handling many concerns right now, and it’s difficult to know where to prioritize time and resources. One way to choose is to consider what is truly important to your dealership. Most dealerships are watching out for people right now— employees, customers, vendors and partners. The priority is keeping employees safe and well. We must also communicate with existing customers. Some of them won’t be buying or servicing a car right now, but they will appreciate being updated on any changes to your business operations. You should also update other stakeholders regularly, so they know you are still in business and have an idea of what to expect from you. Everyone has been bombarded during the past few weeks with information about COVID-19. Even though everyone wants to know what’s going on, sometimes there is just too much information at one time. The result is information overload. Information overload can cause us to miss out on important news. Sometimes it can cause us to believe potentially harmful misinformation. For instance, an MIT study performed in 2018 found that false news travels faster than accurate news on social media.