THE QUEST FOR POSTPANDEMIC RESILIENCE AND RECOVERY
Business Today Malaysia|April 2021
Business resilience is the buzzword now. After 2020, is that a surprise? Most businesses don’t have to be told that they need to do things differently – many are actively searching for a way to “build back better” as the economy recovers. But how do you do that? A good way forward is to look back.
KRISHNA PAUPAMAH

While 2020 was a challenging year, it was also a rare opportunity for organisations to learn more about their businesses. The pandemic was a pressure cooker, exposing fissures in business models and operations, sometimes breaking them entirely. It also revealed surprising capabilities. Many organisations discovered that they could pivot quickly to remote work.

However, during the time when services were being labelled “essential” or “non-essential”, many found themselves unprepared. Systems broke down. Customers were lost to more prepared competitors. Profits disappeared. And many were not resilient enough to survive the crisis.

For those that were unprepared yet survived, these hard lessons can be used to reflect and reshape for a better future.

But first, what exactly is business resilience? It can be defined as the ability to recover from setbacks, adapt well to change, and to continuously improve despite challenges. With new technologies emerging, geopolitical and environmental disruptions, market and consumer demands evolving, this ability is fundamental for business continuity.

As a business owner myself, COVID-19 was a wake-up call to revaluate my company’s resilience, which is why we are currently undergoing a transformation exercise where we put our systems and business models under the microscope. For months, we asked ourselves:

•What are we doing badly?

•How can we do things better?

•What can we do to make the change?

•What potential crisis may we face in the future? Are we prepared for it?

These questions are confronting, but they are a necessary part of building a more resilient business. In my opinion, we should focus our efforts on revamping these three areas:

1.BUSINESS MODELS

Does your current business model create value for your customers? Does it meet their needs? Or is it dangerously outdated or irrelevant?

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM BUSINESS TODAY MALAYSIAView All

INNOVATING TRADITION

The Olive Tree Group’s Managing Director, Leslie Gomez shares on staying ahead in the F&B ecosystem and how he keeps both modernity and tradition alive in his establishments.

5 mins read
Business Today Malaysia
May 2021

WILL A RISING TIDE LIFT ALL BOATS?

In the past, a total income of RM800–RM1,000 could support six people or more. Nowadays, you can barely support three people, and even that is a nightmare...

4 mins read
Business Today Malaysia
May 2021

TAKING ON A FRAGMENTED CANCER CARE SYSTEM

The shortage of oncologists is an issue faced by the whole world, including Malaysia.

3 mins read
Business Today Malaysia
May 2021

LABUAN SET TO ONLY GROW STRONGER AND FURTHER IN THE DIGITAL FINANCE SPACE

Labuan’s reputation as a financial centre dates back to 1990 when the Labuan International Business and Financial Center (Labuan IBFC) was created.

4 mins read
Business Today Malaysia
May 2021

REVOLUTIONISING KITCHENS ONE STEP AT A TIME

Cloud kitchens are no novel introduction to the Malaysian market. While they have yet to really mushroom across the city, Kuala Lumpur is already home to growing names such as Cookhouse and Pop Meals. Now it is home to another, COOX.

3 mins read
Business Today Malaysia
May 2021

WHY DDI TECHNOLOGY IS FUNDAMENTAL FOR MULTICLOUD SUCCESS

Covid-19 has been a rapid learning curve for businesses as they transition to virtual off-premise spaces, requiring fast and efficient access to varied applications to ensure a return to business-as-usual.

3 mins read
Business Today Malaysia
May 2021

TRANSFORMATIONAL LEADERSHIP FOR A POST-PANDEMIC WORLD

There’s no “best” leadership style, no “magic bullet” when it comes to leading a company. But a certain style of leadership is ideal for certain circumstances.

4 mins read
Business Today Malaysia
May 2021

CHAMPIONING DIGITAL TALENT IN THE ENERGY SECTOR

The Chief Technology Officer and Co-founder of Plus Solar, Ryan Oh Zhi Kang has highlighted the need for more talent in software engineering, UIUX design and data analytics in Malaysia.

3 mins read
Business Today Malaysia
May 2021

ELEVATING THE MALAYSIA-EU BILATERAL TRADE RELATIONS

The negotiations for a Free Trade Agreement (FTA) between Malaysia and the European Union (EU), known as the MEUFTA, began in 2010 but reached an impasse in 2012.

3 mins read
Business Today Malaysia
May 2021

BUILDING THE NEXT GENERATION OF FUTURE-READY TALENTS

Back in 1992, the Sunway College was just one institution.

4 mins read
Business Today Malaysia
May 2021
RELATED STORIES

CONSOLE WARS

NARITA BOY is a vibrant retro-futuristic adventure about cyber heroes and digital legends.

3 mins read
PC Gamer US Edition
June 2021

THE CHINESE CONNECTION

Critical Look at Chojun Miyagi’s ndmark 1936 Lecture on the rigins of Karate

8 mins read
Black Belt
June/July 2021

BIGGEST SPACE STATION CROWD IN DECADE AFTER SPACEX ARRIVAL

The International Space Station’s population swelled to 11 on Saturday with the jubilant arrival of SpaceX’s third crew capsule in less than a year.

3 mins read
AppleMagazine
AppleMagazine #496

RANDOM THOUGHTS WITH RICKSON GRACIE

RICKSON GRACIE IS WIDELY REGARDED AS THE BEST OF THE BEST IN BRAZILIAN JIU-JITSU, BUT HE’S SO MUCH MORE THAN THAT. HE’S A WARRIOR, A PHILOSOPHER, A THINKER, AN INSPIRATION AND A ROLE MODEL. WHICH IS WHY WE’RE PRESENTING THESE GLIMPSES OF THE MAN THAT NOT MANY BLACK BELT READERS HAVE SEEN.

4 mins read
Black Belt
April/May 2021

Let the Games Begin

The Tokyo 2020 Olympics works toward a mid-pandemic strategy.

7 mins read
Global Traveler
March 2021

Bem-vindo!

The stretch of Monroe Road where you can find little pieces of Brazil

1 min read
Charlotte Magazine
March 2021

Nervosa

HOW BRAZILIAN GUITARIST PRIKA AMARAL REBUILT HER THRIVING THRASH-METAL JUGGERNAUT FROM THE GROUND UP AND JUMPED HEAD FIRST INTO PERPETUAL CHAOS

2 mins read
Guitar World
March 2021

Happy Hacking Pro Hybrid Type-S Keyboard

$337 for this beauty, but why?

3 mins read
Maximum PC
January 2021

JAPAN SPACE AGENCY CONFIRMS ASTEROID SOIL INSIDE CAPSULE

Japan’s space agency said it has confirmed the presence of black soil samples inside a capsule that the spacecraft Hayabusa2 brought back from a distant asteroid last week.

1 min read
Techlife News
Techlife News #477

Capsule With Asteroid Samples Arrives In Japan For Research

Japanese space agency officials were delighted by the return of a small capsule containing asteroid soil samples obtained by their Hayabusa2 spacecraft and were anxiously waiting to look inside after preparations are complete.

3 mins read
Techlife News
December 12, 2020