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Roscoe CEO on Family Business Strategies for Managing Pandemic Challenges

Mark Stedman - Thursday July 23, 2020

Roscoe CEO Jim Buik shared his thoughts with readers of the Daily Herald’s Business Ledger recently on the strategies that have helped Roscoe manage the challenges of the coronavirus and that can help other family business owners minimize their disruption as well.

Among other assets he has been able to draw upon, Buik writes of the “close relationships among long-tenured team members” at Roscoe.

Those team members are like a second family within the business, Buik writes, and the trust that has built up between team leaders and frontline team members over decades is a big part of what has helped the company navigate the fear and uncertainty of the last several months.

Communication, Collaboration and Planning Serve Roscoe Family Well in Difficult Time

Here are some other strategies Buik identifies in the July 10 column: Tips to Minimize the Fallout of COVID-19

Communication and Information Sharing: Developing a plan to ensure transparency and ongoing communication with team members, vendors and customers has been a critical strategy for the company and one that Buik acknowledges needed some tweaking to ensure that everyone was clear about the added safety measures as they were implemented.

Collaboration and Stress Relief: Buik, who chairs the industry association TRSA and is a past president of the Business Executives Association of Chicago, (BEA) has long been a believer in the importance of networking and industry collaboration. Even so, he describes being surprised at how valuable these networks have been to him throughout the pandemic, down to the stress relief provided by Zoom social events.

“If your practices have not served you well so far, focus on two or three improvements that would make the biggest difference and dedicate your best resources toward making them happen.” – Roscoe President and CEO Jim Buik

Strategic Planning and Certifications: Roscoe’s long-held commitment to strategic planning and independent review put the company in a stronger position even for an event as unpredictable as a global health pandemic, Buik writes. While strategic planning takes a lot of time, the value is even greater in difficult times. It’s never too late, he adds, to start making improvements along these lines.  His advice: “If your practices have not served you well so far, focus on two or three improvements that would make the biggest difference and dedicate your best resources toward making them happen.”

It takes courage to move forward, Buik writes, but that is how we will all get through. “I encourage everyone to keep their spirits up and not to lose sight of the horizon,” he says.

You can read the entire column here.

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