It has been said that strategy is destiny.
Robert Burgelman’s book notes that, “successful and unsuccessful strategies shape a company’s destiny. But if strategy shapes destiny, destiny has ways of asserting itself and constraining strategy.”
With COVID-19 many organizations and businesses have had to rethink and re-imagine their business strategy planning in what seems to be a blink of an eye. The tension between shifting strategy and external and internal factors is not new; what is different is the current economic climate and the impact of a pandemic on constraints of business strategy.
The limitations of the pandemic have essentially created lesser degrees of “stragility” or lesser degrees of freedom for organizations to be strategic, agile and nimble in shifting their course of action.
Given Canada has 1.78 million SME’s, a bulk of which are in the service sector, it is not surprising then that these companies are hit hard