Product differentiation, pricing, and strategic acquisitions have long been the sources of competitive advantage that senior leaders seek.
However, COVID demonstrated that all the brilliant hires in the world won’t keep your doors open when a major crisis comes through and you’re unprepared.
Indeed, companies need to be able to withstand prolonged periods of acute disruption or all prior competitive actions will be rendered moot.
And these periods of disruption are increasingly becoming the norm; look at the crises we face – exotic infections, war in eastern Europe, the prospect of hostilities in the western Pacific, major trade conflicts, civil unrest, cyber- attacks, supply chain disruptions and staffing shortages, inflation, and natural disasters.
Entering this new normal of increased crisis risk, companies now need to establish a solid base of business resilience, to secure a competitive advantage in the market.
How are they going about it?
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