The Coronavirus pandemic has had a tremendous impact on business, and has created significant uncertainty about what lies ahead. This ‘unknown’ can have the effect of crippling business leaders from making decisions or taking strategic action. Yet taking action and planning now is vital for survival.
“Businesses need to shift out of their ‘survival mode’ mindsets and start to lay the foundations for longer-term recovery. While businesses have seen their revenues drop dramatically almost overnight, the worst thing leaders can do is panic and make ‘knee-jerk’ decisions,” says Sandra Beswick, Director at Fluence Capital.
“This crisis has highlighted the need for more future-focused thinking, and while the unprecedented circumstances make it difficult to prepare, having a plan for various potential scenarios helps businesses to create strong future-proof strategies, and ensure longevity.”
This story is from the June/July 2020 edition of Your Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June/July 2020 edition of Your Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
61% of South African SMMEs Planning For Growth
Mastercard SME Index
Selecting A Collections Partner
Key considerations and insights...
Recipe For Success
Key ingredients for a successful partnership between e-tailers and their software developers.
Our Success. Your Success.
The need for business training to improve bottom-line results in businesses across the country has never been greater.
How Small Businesses Improve Revenues In Tough Times
While many small businesses were able to adapt to lockdown in the short term, new challenges emerged when it came to returning to physical workplaces. Modern workforces, for example, are fragmented, while exposures, health and safety concerns frequently disrupt operations. How do we cope with these and many other related difficulties?
Making An Impact
Every year in August we take the time to celebrate women and reflect on the tremendous efforts they make to shape our society.
The Hidden Value Of Outsourced IT Resources
The IT needs of today's businesses are constantly evolving, making outsourcing a very attractive option that can offer a number of compelling benefits for businesses, small or large.
Networking At Virtual Events
Just because you can't shake hands and pass around business cards, doesn't mean you can't network at a digital event.
7 Questions To Ask A Prospective Digital Media Partner
If you are looking to outsource your digital marketing function to an agency, here are some question to ask before signing on the dotted line.
Riches And Beyond
Empowering the next generation of entrepreneurs
