BDO Americas Survey Refocusing On Business Fundamentals
25 November 2020
Preface written by Albert Lopez CEO BDO Américas.
The pandemic has changed the business landscape irreversibly. In this new reality, transformation, human agility and creativity are imperative for turning crisis into opportunity.
How will business leaders navigate this new business landscape and the challenges and opportunities ahead? To answer these questions, BDO conducted research across North America, Latin America and the Caribbean.
Our survey results tell us that growth remains an important focus, but that the routes to growth are likely to be very different compared to only a few months ago. At BDO, we are doing just that, supported by our global
What I find most encouraging about our survey results is that, in spite of the severity of the crisis, the overall picture is not relentlessly bleak. Notwithstanding a significant amount of disruption, organizations have weathered the last six months as well as could be expected - and have demonstrated their resilience. In the short term, times will be challenging, but most businesses and industries show cautious optimism going into 2021.
Our report highlights bold decisions taken by many businesses to ensure their future survival. To achieve their aims for the coming 12 months, business leaders are focusing their investments on improving productivity, adopting new technology and product innovation.
But our survey also reveals potential blind spots that need careful consideration. Most organizations consider domestic sales as their most important growth driver. Yet the need to tap into international opportunities is more crucial than ever.
Other mission-critical questions surface too. Are organizations investing in the right areas? Have they sufficiently enhanced risk management and mitigation? And what about competing priorities? The need to rethink is clear.