Shifting business and cost structures
This crisis has upset past beliefs and models of costs. Costs that were once fixed in the minds of business leaders have become more variable (think office space) while capabilities that might have been differentiators in the past are now acceptable minimum offerings (automation and collaboration technologies).
As Vietnam settles into this new normal of “business as usual”, leaders must continue to balance between cutting costs in a way that doesn’t harm the business while redirecting costs to the drivers of growth. In order to prepare for future shocks, it is timely to revisit strategic priorities, look for what is different in the value chain and bring your people with you into the new way of operating.