CFOs of AT&T, Salesforce and Estée Lauder on Crisis Management

The transcript covers how major companies like AT&T, Estee Lauder, and Salesforce adapted to the pandemic. Estee Lauder shifted focus to skincare and online sales, while Salesforce thrived with remote work, achieving cost savings and increased revenue. AT&T made operational changes, focusing on remote services and reevaluating retail and real estate strategies. The discussion also highlights management lessons learned, emphasizing the importance of adaptability, employee well-being, and strategic alignment during crises.

What was the primary reason for the telecommunications company to spin off its media assets?

• The pandemic forced a strategic shift.

• To focus on telecommunications and unlock value.

• To expand into new markets.

• Due to regulatory requirements.

How did Estee Lauder adapt its product focus during the pandemic?

• By increasing lipstick production.

• By reducing its product range.

• By focusing more on skincare products.

• By launching a new line of perfumes.

Why did Estee Lauder see an increase in skincare product sales?

• People had more time for skincare routines.

• Skincare products were heavily discounted.

• There was a shortage of makeup products.

• Skincare products were advertised less.

What was a key factor in Salesforce's success during remote work?

• Reducing sales targets.

• Adapting to virtual sales and events.

• Hosting more in-person events.

• Increased travel for sales teams.

What was a surprising outcome for Salesforce after moving to virtual events?

• Higher costs than expected.

• A decrease in sales.

• Lower employee engagement.

• Improved financial results.

What operational change did AT&T implement during the pandemic?

• Enhanced remote customer service capabilities.

• Expanded international operations.

• Reduced investment in technology.

• Increased reliance on retail stores.

How did AT&T plan to adjust its retail operations post-pandemic?

• By reducing online sales.

• By increasing store sizes.

• By closing some retail outlets.

• By opening more retail stores.

What approach did AT&T use to encourage employee vaccinations?

• No specific approach.

• Providing certain privileges.

• Offering financial incentives.

• Mandatory vaccination policy.

What was a significant management lesson learned during the pandemic?

• The elimination of remote work options.

• The reduction of digital communication.

• The need for more in-person meetings.

• The importance of mental health support.

What role did CFOs play during the pandemic according to the discussion?

• They led marketing campaigns.

• They managed only financial reports.

• They were the voice of calm and strategy.

• They focused solely on cost-cutting.