01 December 2020
This is BDO’s second 2020 European survey: Ensuring a leadership position in 2025 was published before the COVID-19 crisis broke globally. Then, European business leaders told us they planned to pursue aggressive growth, driven by investments in technology, talent and product innovation – but now their priorities have noticeably shifted. Growth is not completely off the agenda, but a new reality means that business resilience is key and organisations are now rethinking their operating models. The world will change because of COVID-19. Businesses need to imagine a new reality as early as possible - and rethink how they will be positioned in it. At BDO, we are helping our clients to do just that, supported by our global Rethink framework. This 3-stage model encourages a broad rethink around original business models and commercial assumptions. It can be used to manage business priorities, address issues and leverage thinking – and it acts as an extra dimension for strategic level consideration and discussion, regardless of where in the cycle an organisation sits, or the measures already taken. With such unprecedented change occurring in a very short space of time, BDO set out to reengage with European business leaders to understand how their views have changed. Our research explores the practical changes businesses plan to make in the short-term, so they can survive now and go on to succeed in the long-term, once the public health crisis subsides.