Adapting to change: a playbook for business leaders
Macquarie Perspective
When we held an event for 600 business leaders in February, we were yet to comprehend just how prescient the event’s theme of ‘adaptation’ would become.
At that time, we did not fully appreciate the scale of the pandemic, and that its impact would incite change at an extraordinary pace. As well as the very real and devastating human toll, COVID-19 has impacted every industry and businesses of every size.
Having worked with small and mid-sized businesses for over 30 years, we have seen many successfully navigate challenging situations and environments – building more adaptive organisations that continue to thrive. Our reason for being is to help businesses grow, change, capture opportunities, and realise their value, aligned with the owners’ objectives.
And in a year like no other, businesses are meeting the challenge.
This period has tested resilience and ingenuity. Many are using the opportunity to improve customer and employee experience, driving innovation in their businesses that will change the way they operate – potentially permanently. They have accelerated plans, once considered years away, into action, within weeks or months.
In this report, we share frameworks for consideration when assessing the momentum of change in a rapidly shifting landscape, inspiring stories of resilience and adaptation, alongside insights from experts in their fields.
How do you prepare your business with an eye on the horizon, while also managing the impact of today? If you’d like to speak with one of our industry leaders, we’d welcome learning more about your situation.
Greg Ward
Head of Banking and Financial Services
Macquarie Group
The adaptive business framework
How do some organisations respond quickly to opportunities, turn setbacks into solutions and thrive through uncertainty?
Download the report
Discover how to build an adaptive culture to realise opportunity in the face of constant change.
Our perspective
In times of business stability, there’s lower incentive to change. But when a crisis emerges, the things that made a business successful in the past may no longer be relevant.
More than 90% of US business leaders1 believe that COVID-19 will fundamentally change the way they do business over the next five years, according to McKinsey’s recent survey of over 200 organisations. And while the majority see it as incredibly challenging, they also agree it will provide opportunities for growth.
Additional information
The information on this page has been prepared by Macquarie Business Banking, a division of Macquarie Bank Limited AFSL & Australian Credit Licence 237502 for general information purposes only, without taking into account your personal objectives, financial situation or needs. Before acting on this general information, you must consider its appropriateness having regard to your own objectives, financial situation and needs. The information provided is not intended to replace or serve as a substitute for any accounting, tax or other professional advice, consultation or service.
COVID-19: surfing the wave of disruption, video transcript with Michael Maness, July 2020