Sustainable change: Why now is the time to rethink business models and make a shift to digital

Sustainable change: Why now is the time to rethink business models and make a shift to digital

Businesses go through up-down cycles – this perhaps has been the only constant since the beginning of commerce. The underlying question then is why some businesses do better than others. The answer perhaps lies in the almost indeterminate term – “Business Model”. Some business models are better equipped to address and adapt to market dynamics, changing customer behaviors and regulations, and regional and political boundaries.
And that makes all the difference. It must be understood that, while technology tends to hog headlines, and
business models are not just about technology, but also about larger organizational readiness, cultural readiness, people readiness and ecosystem readiness to leverage or build upon an organization’s technological or digital maturity. While none of this is new, the Covid pandemic perhaps just reinforced the need for agile business models.

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