These include dealing with any problematic offshored and outsourced operations, establishing hi-visibility leadership, deploying 'pop-up' business models and, if required, making the difficult decision to reduce costs by cutting jobs.

A spokeswoman for BCG said the firm had published dozens of articles "covering many different themes and addressing priorities of different industries working in different countries at different stages of this crisis".

"There is not a one-size fits all approach to business strategy at a time of discontinuity," she said.

"Some companies are overwhelmed with demand, and others are [very] short of demand. The pandemic has some of the characteristics of a one-off shock [differs by country], but with prolonged effects in many areas and likely permanent effects in others. Different governments have provided different support models for business, such that each countrys situation is different, often with differences within a country by state or region."

"Our general point of view is therefore equally not one-size-fits all. What we have consistently said is that leaders need to pull levers that will help them be resilient, and also help them prepare for growth on the other side of the crisis," she said.

A spokeswoman for Bain said the firm's consultants had been initially focused on "helping companies get back to work safely and effectively" amid the pandemic.

"The team have deconstructed four of the most common workplaces - customer-facing [stores, banks, restaurants], manufacturing, warehouse and distribution centers, and office. They have also detailed examples of the six risk-mitigation responses that companies might need to put in place in each," she said.

"The basis for this thinking comes from our overall strategic approach to navigating the COVID-19 crisis called Act Now/Plan Now. This approach emphasises the dual set of activities business leaders must focus on simultaneously to protect the business today and recover and retool for the new world."

McKinsey has noted that the outbreak is "first and foremost a human tragedy" when outlining how businesses could respond to the crisis.

"We suggest that in order to come back stronger, companies should reimagine their business model as they return to full speed," a recent article from the firm notes.

"The moment is not to be lost: those who step up their game will be better off and far more ready to confront the challenges - and opportunities - of the next normal than those who do not.

"There are four strategic areas to focus on: recovering revenue, rebuilding operations, rethinking the organisation, and accelerating the adoption of digital solutions."

ICG founder David Moloney.Supplied

Mr Moloney said that clients were now requesting advice on how to adapt their business models to suit the new environment.

He added that ICG was also helping clients replace offshoring and outsourcing arrangements which have proven fragile during the pandemic, due to travel restrictions and lockdowns.

"There is some talk about supply chains but as the same consultants were the champions of offshoring and outsourcing as a way to cut staff costs, they haven't highlighted the about-turn in their recommendations," he said.

"Companies need to create local alternatives which will be anti-fragile."

ICG's human capital leader, Greg Barnier, said leaders had to shift from helping employees feel safe to charting a path for a return to normal working conditions.

"Good leaders are acknowledging that in these circumstances you can not separate work from home. They are accepting and acknowledging the 'interruptions' or conflicting priorities to the work day that may bring, such as children or family pets appearing in zoom meetings, home schooling demands [and so forth]," he said.

"A challenge for employers in the city may be the reluctance of people to return to work early due to concerns of safety in public transport, or a preference for more flexible work options now that many employees have experienced work from home."

Mr Moloney said that in addition to helping companies develop tactical 'pop-up' business opportunities, companies might need to look at ways to dramatically reduce their cost base.

"The firms all talk about cost reduction but they don't say how or why. The number one option is to reduce labour. You are moving customers and staff to digital channels. What the virus has created is an opportunity to step-change digital migration," he said.

"It's a gap [caused by] political correctness. No one wants to talk about cutting jobs when everyone is talking about protecting jobs. At the moment it is still to early to talk about staff reductions, but of course the virus has exposed pockets of unproductive labour and accelerated digitisation so it's created an opportunity to right-size."

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McKinsey, BCG and Bain advice on surviving COVID-19 - The Australian Financial Review