PwC’s Global Crisis Survey 2021 unearths the worldwide business community’s response to the unprecedented social, economic and geopolitical disruptions caused by the pandemic, while also shining the spotlight on what they’ve learned and how they’re preparing for what’s next.
The Singapore report captures the responses of the local businesses, their actions through the pandemic and what they are doing to emerge stronger in the new world.
Our report reveals that 32% of Singapore organisations had operations that were significantly impacted by COVID-19. According to local business leaders, operation and supply chain, finance and liquidity and workforce were the three most impacted areas of operations.
Top 3 most impacted areas
of Singapore respondents say they were negatively impacted by COVID-19
of businesses positively impacted by COVID-19 are ‘very confident’ about their ability to collect, action, and monitor progress on lessons learned across the organisation
Top actions by businesses through the pandemic
When COVID-19 started impacting operations, more than half of Singapore organisations sought external assistance from government contacts. More than half of Singapore businesses also responded by:
more of Singapore organisations indicated technology as a crisis exacerbated by the pandemic.
of Singapore organisations have identified cybersecurity or privacy transformations.
of organisations have used a Crisis Response Plan.
of organisations improved their ability to work remotely.
Business leaders recognise that a foundation of resilience can make the difference between faltering or flourishing — during a disruption or in good times. As the post-pandemic period begins to take shape in the coming months, organisations have an opportunity to reimagine opportunities for the future.
"The challenge of crisis management in today’s complex world is in recognising the inevitability and unpredictability of disruptions and prioritising investments in cementing a strong foundation of resilience to weather any future disruptions."