This article by Datuk Johan Idris stated the crisis that arose from COVID-19 has influenced how business will be conducted in the future. Once the short-term survival of their organization has been secured, businesses will be pressured to consider the potential impacts of this crisis to their long-term strategy.
Before this pandemic, businesses were already working hard to maintain resilience in the face of other fast-moving trends, including relentless technology innovation, extended supply chains and the ever-changing customer experience. Now one must learn to reprioritize and adapt to the post COVID-19 new normal.
At KPMG, we advise our clients that long-term success requires them to assess their situation against the four stages of our Global Recovery Framework: Reaction, Resilience, Recover and New Reality. Companies now need to move away from reacting to prepare for recovery, and ultimately rebuild to thrive in the new reality.
Click here to read the full article published in The Malaysian Accountant Journal
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