It will be quite some time before we understand the full impact of the Covid-19 pandemic.
But the history of such shocks tells us two things. First, even in severe economic downturns and recessions, some companies are able to gain advantage.
Among large firms doing business during the past four downturns, 14% increased both sales growth rate and EBIT margin.
Second, crises produce not just a plethora of temporary changes (mainly short-term shifts in demand) but also some lasting ones.
To know more about adapting your business, please read the article from HBR.
Photo UX Indonesia for Unsplash
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