Exploring the Challenges and Resilience of Two Companies in Different Industries

Exploring the Challenges and Resilience of Two Companies in Different Industries

Introduction:

In the ever-changing landscape of the business world, companies face various challenges that can test their resilience and ability to adapt. In this article, we will delve into the stories of two companies, Strive Health and WeWork, operating in different industries but both grappling with major obstacles. Through their experiences, we will uncover valuable insights and actionable advice that can benefit businesses facing similar trials.

Strive Health and Evolent Care Partners Collaboration:

Strive Health, a healthcare organization, recently formed a partnership with Evolent Care Partners to enhance the care provided to Medicare beneficiaries with chronic kidney disease (CKD) and end-stage kidney disease (ESKD). This collaboration aims to support primary care providers in Michigan and North Carolina who are part of Evolent Care Partners' Accountable Care Organization (ACO). By combining their expertise, Strive Health and Evolent Care Partners can improve the quality and cost of care for a defined population of Medicare beneficiaries.

Key Takeaway: Collaboration and shared expertise can lead to innovative solutions that address complex healthcare challenges.

WeWork's Board Reshuffle:

WeWork, a once high-flying company in the flexible workspace industry, faced a significant setback as its valuation plummeted by 99% since its initial public offering. This decline prompted the resignation of three directors who cited a substantial disagreement regarding board governance and the company's strategic direction. To fill the void, WeWork appointed four new independent directors with extensive experience in navigating corporate defaults and bankruptcies.

Key Takeaway: Adapting to unforeseen circumstances requires strategic decision-making and the infusion of expertise in relevant areas.

Connecting the Dots:

While Strive Health and WeWork operate in different sectors, their stories highlight common themes that businesses across industries can learn from. Both companies faced challenges that necessitated strategic partnerships and changes in leadership. Strive Health recognized the need to collaborate with Evolent Care Partners to improve the care provided to Medicare beneficiaries with kidney diseases. Similarly, WeWork acknowledged the importance of bringing in directors with bankruptcy expertise to navigate their financial turmoil.

Key Takeaway: Recognizing the need for external support and expertise can be a crucial step towards overcoming challenges.

Actionable Advice for Businesses:

• 1. Embrace Collaboration: Seek partnerships with organizations or experts who can complement your strengths and address your weaknesses. Collaborative efforts can lead to innovative solutions and improved outcomes.

• 2. Be Agile in Decision-Making: In times of uncertainty, businesses must be willing to make tough decisions and adapt their strategies accordingly. This flexibility can help navigate unexpected challenges and maintain resilience.

• 3. Seek Relevant Expertise: When facing complex issues, consider bringing in professionals with specialized knowledge and experience. Their insights can provide valuable guidance and increase the chances of successful outcomes.

Conclusion:

The stories of Strive Health and WeWork shed light on the challenges faced by businesses in different industries. By embracing collaboration, making agile decisions, and seeking relevant expertise, companies can navigate turbulent times and position themselves for success. As the business landscape continues to evolve, the ability to adapt and learn from the experiences of others becomes increasingly crucial.