Midsize businesses face a unique set of challenges when it comes to building resilience and opportunities going forward.
Their relative size, while in some cases affording them more agility than larger rivals, can leave them vulnerable. Limited cash reserves mean there is little margin for error. Relying on inputs from large and complex supply chains can leave them without the materials they need to maintain operations. There are little to no redundant resources while employees work to full capacity and often fulfill different roles. Attracting top talent is a perennial problem.
All this made the events of 2020 particularly trying for midsize businesses; supply chains were ravaged, the workforce was distributed, and millions of businesses were shuttered worldwide. Yet, many midsize businesses have successfully weathered this storm.
The most successful organizations were those that valued collaboration, cross-business insights, data-driven decision making, and agility, both in terms of processes and employees. By marrying these traits, they become “interconnected businesses”.
In doing so, they are able to offer outstanding customer and employee experiences, build resilience, and navigate rapid market fluctuations – capabilities that are essential for the future. Interconnected businesses are also in a stronger position to seize new opportunities and pursue growth when the economy stabilizes.
This e-book is designed to help you become an interconnected business using best practices in four key areas: Customers, Employees, Insights,
and Processes. Download below.