July 2024
Intermediate to advanced
202 pages
7h 23m
English
Content preview from How to Manage and Survive during a Global Crisis
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7 COVID-19 important management lessons Learning from failures
7.1 Agility and adaptability
COVID-19 highlighted the importance of agility and adaptability in organizational operations to help businesses navigate unforeseen challenges and uncertainties, wherein rigid business models and processes quickly became obsolete in the face of large-scale and wide-spread disruptions (Elali, 2021). Companies that were able to pivot their strategies, products, and services in response to the changing landscape fared better during the crisis, which underscores the need for managers to foster a culture that encourages innovation, flexibility, and the willingness to embrace change (Hamilton, 2020). As the business landscape ...
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