When a crisis hits, business leaders need to determine if their strategy is still fit for purpose. Here, CEOs tell Emma Carroll how they have responded to this challenge.
New research from Criticaleye reveals that most CEOs believe their strategy is still very relevant despite the colossal impact of COVID-19. So, do they think recovery means a return to business as usual? Not at all – they are scrutinising their new ecosystems, accelerating the shift to digital and continuing to ask, ‘what if?’ as they put their plans into action.
Featuring commentary from:
Russell Atkinson, former CEO, NAHL: We have learned you can make good decisions, more quickly with less data – you must just be adaptive and ready to react.
Matthew Blagg, CEO, Criticaleye: It is very easy to get sucked into short-term customer behaviour. Modelling of ‘what-ifs’ is crucial at this point, such as how rising unemployment will change behavioural patterns.
Giulio Cerroni, CEO, IXICO: The pharmaceutical industry is very conservative and, while there has been talk about using technology for a long time, there is caution about changing things that work when operating in such a highly regulated field.
Mui Hoon Poh, Board Member, Singapore Pools and a Criticaleye Board Mentor: One thing that will be crucial for all businesses after the pandemic is the need for a mix of diverse revenue streams, so that if one offering drops off a cliff they can still survive.
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