ONE of the things that have become apparent during the pandemic is that many companies were vulnerable to disruptions due to old business models and practices.
For example, the widespread practice of outsourcing in the early 2000s had led to high degrees of specialisation and dependencies on an integrated global supply chain. This may have further perpetuated supply chain shocks when borders were closed and movements restricted to curb the spread of Covid-19 last year.
These tendencies to specialise and build on economies of scale have cost businesses over the past two years or so, particularly for those that were not able to quickly change their products and services.
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