COVID-19 continues to challenge the business landscape like no other event before it and many in the mid-market are now fully-focused on building greater resilience into their operations. However, true resilience goes beyond short-term survival – it means achieving a velocity that returns your business to a growth trajectory.
Technology played a critical role in mitigating the impact of the virus. Whether helping employees to perform their jobs or providing a platform for fulfiling products and services, technology enabled new ways of doing business.
The mid-market already had a reputation for agility but the COVID crisis has forced leaders to take an even closer look at how their operations can be more responsive. As they prepare for the future, businesses are taking stock of their existing operations and questioning whether they are fit for purpose.
In the immediate aftermath of COVID-19, businesses looked to improve their cash flow management and focus on day-to-day survival, leaning heavily on government support packages. But longer-term, businesses will need greater liquidity as they move to financial self-sufficiency after governments scale back support.
The global pandemic has provided an enormous shock to businesses and, for many in the mid-market, fundamentally tested their ability to deal with crisis and disruption. Indeed, according to Grant Thornton's IBR data, 42.2% of global respondents think they will need to improve crisis management processes after the COVID crisis.
The most radical and immediate impact of COVID-19 has been on people. New ways of working have put increased pressure on managers and their teams. Lockdowns and remote working have blurred the lines between business and professional lives and brought to the fore the physical and mental wellbeing of workforces.
The global pandemic combined with self-isolation and economic uncertainty is changing the way people consume products and services – possibly forever.
The COVID-19 pandemic presents extreme challenges to businesses and the competitive landscape will be a hot bed of innovation, quick pivots, divestments and acquisitions as businesses devise new models to recover growth.
COVID-19 has challenged the business landscape like no other event before it and many in the mid-market are now fully-focused on building greater resilience into their operations.
Regulatory changes can be challenging at the best of times but with many businesses focused on day-to-day survival, recent rule changes have proved particularly problematic.
In times of uncertainty businesses often turn to a trusted confidant, who can diagnose their problems and recommend a course of action to thrive. It is perhaps therefore no surprise that when many sectors are starting to look off colour, the professional services sector is in relatively good health. In this article, we explore the vital signs for the Professional services sector and explore their outlook.
Businesses of all shapes and sizes are trying to carve out a competitive advantage by leveraging digital information. The most cutting-edge companies harness customer preference data for a range of reasons, including to create personalised services and targeted marketing campaigns; to scrutinise employee performance data to drive productivity; and to analyse supply chain information to drive efficiencies. And that’s just the tip of the iceberg, with digitised data embedded across business practices.
Businesses have ploughed billions of dollars into technology that promises to keep cyber threats at bay. Gartner claims that end-user spending for the information security market is estimated to grow at a CAGR of 8.5% between 2017 and 2022, reaching $170bn.[i]
Jutting out into Austria’s skyline, emerging from the surrounding forest, lies an ancient medieval wonder – Hochosterwitz Castle. The thousands of tourists that flock here every year soon learn a surprising fact: it is one of only a very small number of castles around the world that has never been breached.
The second quarter of 2014 brought a raft of very cheery economic news. The pace of growth in China kicked back up to 7.5% following a mini-stimulus from the government which included speeding up infrastructure project approvals, tax relief and credit easing. The United States roared back after a particularly bitter winter to post 4.0% growth (at the annual rate). Spain was buoyed by news that growth had accelerated to 0.6% (from the previous quarter) and the unemployment rate has started to fall.
Sustainability is a buzzword of the moment. Whether as business leaders or consumers, we cannot escape from being told to consider the long-term implications of our actions or spending decisions.