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Managing Through Turbulent Times: The 7 rules of crisis management by Anthony Holmes

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13. Changing the business model

Business models depend on the conditions in which they operate for their success. A model that has functioned effectively in stable times may be incapable of dealing with the changes that characterise turbulent times.

For example, a manufacturing operation that relies on economies of scale will experience problems if the market contracts or the distribution pipeline reduces inventories significantly and moves to an ordering pattern that demands small quantities delivered more frequently with much shorter lead times.

In turbulent times market pressure tends to push most businesses towards the need for greater flexibility and shorter response times. If business models are incapable of adapting then, just like ...

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