Organizations across industries and geographic regions have faced economic challenges due to the pandemic, macroeconomic conditions, and global disruptions. This circumstance has prompted them to prioritize cost optimization to maintain business continuity, rather than actively pursuing potential opportunities for future growth. However, many organizations are shifting their focus and embracing digitization not only to digitize their operations and offerings, but also to establish a digital DNA for business resilience during a downturn. At the same time, many organizations face an important choice between supporting change initiatives that may have lasting impact on their companies versus running initiatives that may result in short-term gains.
In this report, we examine how organizations can navigate the ongoing economic downturn by leveraging relevant technologies to drive next-generation innovation, particularly through digital transformation. The report also cites several successful innovative investments organizations have made during previous economic crises and presents a framework for effective innovative investments to gain a competitive edge in the market.
