RETHINK_A new approach to doing business | BDO in India
16 July 2020
The global health pandemic disrupted daily lives, livelihoods, businesses and economies world over, orchestrating an uncertain situation on account of endless lockdowns of cities and countries. This unprecedented event caused an operational and financial dent to businesses of all sizes and statures, challenging frameworks and continuity plans. To ensure safety of people and continuity of operations, businesses resorted to immediate viable measures like remote working and cost reductions to stay afloat and sustain.
With restrictions easing and commercial activity gradually picking up across the country, business sentiment is showing positive signs of recovery. But will it ever be like before?
The pandemic has forced change: economic, societal and commercial. It is imperative to revaluate existing plans, remodel to sustain, factor in resilience to overcome future challenges of similar velocity, and most importantly adapt to the ‘new normal’.
To help organisations regain lost ground and build a stronger business foundation in the new normal, BDO has developed a Recovery model, elaborating a three-stage process, encouraging ReThinking original business and commercial assumptions, re-prioritising obligations and addressing issues to adapt and thrive.
The ‘RETHINK’ model provides a practical approach to helping organisations understand and assess the issues they faced and are likely to face as they emerge to adapt and succeed.
Read more to know more about the RETHINK model and how it can be leveraged to assess impact on business and understand possibilities to overcome it.