With optimistic signs that we are nearing the end stages of the global pandemic crisis, is now the time for organizations to put their foot on the accelerator?
Certainly, while there is some understandable near term caution until the full extent of the damage to businesses and global economies has been digested and uncertainty in Europe over the outcome of Brexit is resolved, good news on vaccine efficacy and a more settled political landscape in the US is a cause for optimism.
So what actions should business leaders take to ensure they adapt rapidly and sustainably, taking into account the business uncertainties that they face? As a first response the majority of companies downsize their investment programs and prepare savings plans. But such actions may further exacerbate the pain without a parallel focus on long term growth plans.
Instead, by overhauling production models and creating an inclusive, agile culture among their employees, companies are likely to rebound and recover much faster and more effectively. It is on this last point that DuPont managed to make a difference in response to the 2008 crisis.
Edwin Vercruysse tells more about how DuPont was able to respond effectively to the upswing.