24.11.2020
"Using crises as opportunities". It is surprising that there are many entrepreneurs who see many opportunities in the current crisis situation. To react flexibly to current developments and to adapt the business model quickly has always been an important skill for entrepreneurs, which has gained enormously in importance during the Corona crisis.
In the current crisis situation, it makes sense to look back on historical predecessors. There have been about 15 crises to which the economy has been exposed over the last decades. Many of these crises have passed, and often the world has emerged stronger, more innovative and more capable. The pressure of the crisis has meant that many companies have been made fit for the future. New technologies, processes and means of communication have opened up opportunities that were previously unrecognised. The innovative power and adaptability of humanity were regularly underestimated - especially when it came under pressure.
Market conditions change, new competitors emerge with new technologies and products that are cheaper, more efficient or of better quality. Established companies must react to this if they do not want to vanish from the market.
If we turn our attention from the crisis in the past to the present, we can see that our instruments for crisis management have never been as varied and promising as they are today. The global networking made possible by technological developments allows international cooperation on an unprecedented scale.
Crises tear us out of our comfort zone, catapult us out of our comfort zone and make us learn and adapt. They allow us to recognise and develop completely new skills under pressure. We experience how much creativity companies use to prepare for the future - also by acquiring other companies to strengthen their skills. Others take on equity partners with whose capital, networks and know-how the future challenges can be overcome.