Q: Is a recession really the time for a company to make major changes?
A: Change is coming anyway, so leaders need to take control. At HBS, our motto is, "Never let a crisis go to waste." The major dislocations happening in industries around the world give companies a great opportunity to lay the foundation for the future. Because everyone acknowledges the current crisis, they often readily accept restructuring and changes that were not possible in the past—even if change has been needed for some time....
Companies are making changes. Some drastic others more subtle, but all are trying to do things that they believe, based on whatever analysis and thinking they've done, will allow them to survive the current crisis and come out the other end with a viable and profitable business. Mindset is important as companies engage in change. That mindset, and I will unrepentantly borrow again, is "I'm not just going to survive—I'm going to thrive."
Not a law post, but lots of good information in this article for anyone contemplating change in their business or interested in innovation in these times.