As in many sectors, Covid-19 had a significant impact on the automotive industry in 2021. Across the globe, factories closed, production declined, supply chains were severely affected, and demand decreased, clearly reflecting a tumultuous period of change. – NSTP file pic, for illustration purposes only

Prioritise Customers, Control Costs And Innovate Business Models, Online | 07 September 2021

THE Covid-19 outbreak has been a humanitarian crisis that has gravely affected the global and our nation’s economy, posing unprecedented challenges for business leaders.

It is increasingly becoming a daunting task to evaluate the impact because by the time a response is formulated, the situation changes, and the scale, speed and outcome of issues have unexpectedly intensified.

The first half of 2021 has undeniably taught businesses the world over, many valuable lessons. The impact of Covid-19 has been extensive, far-reaching and likely to be long-lasting. Businesses nationwide are faced with a period of uncertainty, many had to adapt and undergo adjustment in their businesses whilst some had to embark on transformation, radical paradigm shifts and “new-normals”.