The Edge Singapore

Finding Advantage in Adversity During COVID-19

In his guest column for The Edge Singapore, BCG’s Jaime Ruiz-Cabrero explains how companies can use times of crisis and adversity as opportunities to transform for the new reality. He outlines the steps companies can take in the short term to overcome a crisis, including cash preservation, continual scenario planning, and rapid cost-takeout. Over the long term, he advises companies to transform to unlock new opportunities through zero-based budgeting, acquisitions, and digitalization.

Financial Times

What the Rich Are Still Spending

The pandemic has forced even the wealthy to change their spending patterns, BCG’s Sarah Willersdorf explains to the Financial Times. According to the seventh edition of BCG’s “True-Luxury Global Consumer Insights” report, 57% of high-end shoppers have refrained from making purchases and investments they had planned before the pandemic. Willersdorf says, “ultra-high-net-worth individuals are still happy to spend, while the slightly less rich will trade down.”

China Daily

Auto Companies in the New Energy Era

In his guest column for China Daily, BCG’s Gang Xu discusses the recent rapid growth of China’s new energy vehicle (NEV) market. He notes that uncertainties may indicate a coming restructuring of the industry. He explains that the overall profitability of China’s NEV industry is decreasing as other industry giants with stronger supply chains enter the market. Gang expects that auto players that actively seek transformation and strong user touchpoints will dominate the market; whereas those that lose touchpoints will be pushed out.

Forbes

Learning & Development: COVID-19 Pushes It from the Back Room into the Spotlight

In his column for Forbes, BCG’s Grant Freeland discusses the limitations of remote learning and the importance of learning and development (L&D) during the COVID-19 pandemic. He writes that, given the speed at which technology and society are changing, the need for continuous learning, reskilling, and upskilling has never been greater. Freeland says broader L&D programs create a pool of agile employees, develop problem-solving managers, and inspire leadership in executives.

Australian Financial Review

The Need for Digital Transformation During the Pandemic

BCG’s Stefan Mohr tells the Australian Financial Review that the pandemic is giving greater urgency to digital transformation. Citing research from BCG, Mohr explains that digital leaders outperform their peers in key areas including cost efficiency, product quality, customer satisfaction, and time to market. As the world rapidly changes, digital leaders will be the front-runners in the race for business survival, he says.

CNBC Africa

How East African Businesses Can Survive COVID-19

In an interview with CNBC Africa, BCG’s Mills Schenck asserts that East African firms should be actively managing their liquidity to adapt to the new reality and to ensure near-term continuity. He explains that there are opportunities for all sectors to capitalize on shifting supply-chain dynamics and to invest in digital. According to Schenck, companies need to build flexibility in their business models and future-proof their supply chains to ensure greater resiliency.

HBR

A Guide to Building a More Resilient Business

In their featured article for hbr.org, BCG’s Martin Reeves and Kevin Whitaker explain how businesses can explicitly design for, measure, and manage resilience in our COVID-19 world. They stress the importance of resilience as the business environment is becoming more dynamic and unpredictable. The authors explain that managing for resilience requires a “fundamentally different mental model of business—one that embraces complexity, uncertainty, interdependence, systems thinking, and a multi-timescale perspective.”

Forbes

Pandemic Accentuates Two Problems with Change Management: One Is Change, the Other Is Management

In his column for Forbes, BCG’s Grant Freeland discusses the importance of change readiness in organizations. He consults BCG’s Martin Reeves, who shares that companies’ change programs fail to meet expectations 75% of the time. According to Reeves, the biggest mistake is made when senior leaders try to work out too many details in advance. Reeves believes the most successful companies are those that “constantly learn and adapt to changing realities.”

Bloomberg

Time for Change: LGBTQ Discrimination and Underrepresentation at Work

Bloomberg and Fortune highlight the findings of a recent BCG report titled, “A New LGBTQ Workforce Has Arrived—Inclusive Cultures Must Follow.” The report states that, although illegal, workplace discrimination is still highly prevalent. The report also indicates that despite the changing makeup of the LGBTQ workforce, white, gay men are still disproportionally represented in leadership compared to other members of the LQBTQ community.

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