How to balance long-term and short-term objectives during a crisis

As COVID-19 stretches into 2021, brands are realising that plans put on ice in 2021 may no longer fit the moment.

Adapt and pivot was a striking feature of how many businesses responded to COVID-19 during the early months of the pandemic. However, while for LVMH it meant converting perfume factories to make hand sanitiser and for Prada switching from producing luxury fashion to PPE, for some whose talk was unmatched by action it was little more than a PR opportunity.

Now, twelve months into the crisis, adapt and pivot is taking on new meaning as a critical building block of long-term strategy planning.

During the early months of the pandemic crisis, many plans were simply put...

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