Athrú Insights, a behavioural change consultancy, has launched a report supported by KPMG identifying the consistent behaviours of companies which have adapted, and continue to adapt, to a new way of doing business throughout phase one of the pandemic.
The research consisted of 24 in-depth interviews with chief executives, functional heads, and entrepreneurs of leading enterprises that had decided to take control of their futures – to excel rather than stand still. The case studies come from a wide range of sectors, ranging from agriculture to healthcare and technology to beauty, including companies such as Arena Group, Trinny London, ICON Group, Global Shares, Teckro, Motorpoint, Yeo Valley, UDG Healthcare, Genfitt, and Momentum Support.
In November 2020 there is no shortage of worry or concern about the future health and wellbeing of our country, writes David O'Kelly, Deal Advisory partner at KPMG.
At the time of writing, Ireland is in a ‘Level 5’ lockdown with all but the most essential travel for work or personal reasons significantly restricted to assist in the vital efforts to resist a major second wave of COVID-19. The UK has similar measures in place along with most of Europe.
The health of the population has been put ahead of the needs of the economy. This has been done to ensure our health service does not become overwhelmed by demand outstripping capacity. That difficult decision has created huge challenges for businesses and the people they employ. The immediate effect is all too easy to assess through the increase in unemployment and the impact on private and public finances.
It is natural at such times to focus solely on the challenges and hardship which many face. However, even in difficult times there are examples of those who through ability, ingenuity, or circumstance have managed to create opportunity out of adversity.
When the authors approached KPMG to help create a platform for others to benefit from their research on how companies reacted to the challenges brought about by the pandemic we were delighted to get involved. Through our client engagement, we have seen business work to minimise disruption, maintain employment levels and be in the best possible position for the road ahead. This has been achieved through the rapid escalation of digitisation, deployment of new business models, changes in work practices and other innovations.
Through their interviews with so many leading businesses in Ireland and the UK and the time taken to analyse the responses, the authors developed the Tenets of Adaption, outlining the approaches taken by businesses to survive and potentially thrive.
We are delighted to support this work in the hope that Paul & Rebecca’s observations together with the case studies would be of value to businesses seeking to adapt to this challenging environment. I’d like to congratulate Paul and Rebecca on their research and the insights it provides. It is also important to acknowledge the companies who shared their stories and express gratitude for the time they took to pass on their experience for the benefit of others. I hope you find benefit in this publication.
Rebecca Brennan and Paul Duggan, co-founders of Athrú Insights, talk to Ian Kehoe, editor of The Currency, about their newly published report, the Tenets of Adaption, which examines the impact of the COVID-19 pandemic on businesses across Ireland and the UK.