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Survey: Companies need to reevaluate business model amid the pandemic


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05 May 2021
The majority of companies in Asia need to fundamentally change their business models due to the pandemic and its subsequent economic fallout, according to FTI Consulting s Resilience Barometer COVID-19 Report. 
The report surveyed more than 600 companies in China, India, Indonesia, Japan, Singapore and South Korea. 91% of respondents said they had placed greater emphasis on planning for unknown risks, meaning that concentrating on business fundamentals, such as staying operational and financially viable in the face of future crises. As a result, 81% of companies now use AI and analytics to monitor scenarios that impact risk and compliance.
The pandemic has also impacted business resilience, with 64% of companies surveyed saying they had been facing challenges servicing their debt requirements. Companies saw an average revenue decline of 10% and headcount decline of 12%. ....

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