A zero-based mindset for businesses to fuel growth and outmaneuver uncertainty
The COVID-19 pandemic continues to drive fundamental changes in consumer values, supply chains and routes-to-market. At the onset of the crisis, it was a race for survival. Industries across the board faced depleted or zeroed revenue and increased costs as they rushed to address short-term liquidity challenges.
Our survey revealed that 51 percent of industry leaders were concerned about rebounding and recovering from the pandemic. Among S&P 500 companies, 42 percent are facing a real risk of bankruptcy. And a huge 82 percent plan to execute enterprise-wide cost reduction to free up funds to invest in growth initiatives.
Businesses are taking a series of belt-tightening measures to tide through the initial crisis. As we move to the NEXT the focus needs to shift to resetting the cost baseline and leveraging the new ways of working to sustain the cost advantage. This is critical to free up the necessary resources to reinvest in growth opportunities and thrive in the NEVER NORMAL.
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