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5 business strategies for success during the pandemic Logo cgma

  Sarah Nagem |   Free |   Nov 2020 |   FM magazine

Placing an emphasis on opportunities to innovate — instead of making blind, blanket budget cuts — can help organisations emerge stronger.

Topics covered:
  • Management accounting: Business: Strategy, Advanced

1 Comments/Reflections

Claudia Ramos De Oliveira

Claudia Ramos De Oliveira Jan 2021

The article successfully highlight the importance of business leader be able to see potential business opportunities presented by the pandemic crisis. It warn us against the business temptation to adopt blanket cost cutting strategies, which in turns increase the level of bureaucratic controls and slow down the decision making process in the organization, in a time where businesses need to move quickly. Using blanket cost cutting also is likely to diminish business ability to try ‘new things’ (i.e.: learn and innovate) and therefore be able to deliver solutions to their customer emerging needs. Also interesting mention to the importance of communicating with the customer and taking them with you and the strategic decisions that your business are required in order to guarantee continuity of services/products.