How do companies reframe for growth in this volatile environment?

Decisions on transformation can no longer be delayed. To be growth-ready for the post-pandemic recovery, businesses must reset, reimagine and reinvent. Here’s how.

 
-To be ready for recovery businesses must achieve a lower and more flexible cost base, supported by strengthened resilience across supply chains and cybersecurity.

-Investment in enterprise-wide digitalization must be increased.

-Transformation efforts must focus on five areas where the pandemic will leave lasting impact: health, connectivity, relationships, ingenuity and accountability.

 
Every business executive knows COVID-19 crisis has been a force for change, or more typically – disruption. But the critical question is: how much of this change is temporary and how much may be lasting? The pandemic has acted as a reactant for shifts that were already transforming business practice and consumer behavior – such as digitalization and sustainability. But it has also surfaced entirely new challenges. Both sets of drivers need to be understood as leaders plan for an eventual return to a new, more stable environment.

While external forces have pressurized business from the outside, the pandemic has shone a light onto previously unrevealed weaknesses on the inside of companies. It has highlighted unfinished homework – many organizations have already paid a heavy price for deferring necessary changes, such as digitalizing large areas of their business or cleaning up balance sheets. The pandemic has turned a “should do” wish list into an urgent “must do” agenda for enterprise transformation.

Συνέχεια ανάγνωσης :εδώ

Πηγή: ey.com