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. To remain relevant in unprecedented times, businesses must continually learn from their operations and environment, then quickly execute change whether it is product development, better customer experience or growing new markets.
According to Grant Thornton’s IBR data, 46.2% of businesses said they would need to improve organisational flexibility after COVID-19. Meanwhile, 36.9% of respondents said they had started to plan for different scenarios for the scale-up of their company operations in preparation for recovery.
Businesses who are lean and agile will be primed to bounce back faster, enabling them to capitalize on the opportunities presented in the market.
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