It's time to come up with new answers to old questions

In order to boost their competitive advantages, businesses need to adapt to changing realities.

Published Tue, Jun 16, 2020 · 09:50 PM

BUSINESSES have all woken up to a new reality. The lockdowns, social distancing and loss of critical manpower due to illnesses or on public duty have meant that for long periods of time, the brick and mortar business has had to switch to online and virtual modes. Coping with these challenges is the defensive mindset.

Seeing this as an opportunity for better business outcomes is, however, a more positive strategy. The old competitive advantages have given way to a different set, some of which we always knew but may have ignored. The value equation and relative importance of various factors have changed too.

Let us analyse which of the advantages matter less and which ones matter more:

Physical…