If your company underwent drastic changes in its strategy or operating model during the past 2 years, you are not alone. Back in 2020, garment companies started to produce face masks, and appliance manufacturers churned out respirators. Not every CEO made such dramatic shifts in their operations, but many of us needed to re-orient our goals and execution to survive and thrive. In addition, some sectors have experienced fundamental shifts accelerated by the pandemic and are most likely permanent. For example, mall operators have seen a radical shift in consumer behavior relative to in-person shopping; car manufacturers are facing a
In this perfect storm, executives are challenged to follow a clear strategic path: should they continue to contain cost at the expense of new products? Should they pivot to address new demand, without knowing if it will evaporate when things return to normal? How can they move in-person customer service excellence online?