Surviving in business requires a combination of strategic planning, adaptability, and resilience. It involves implementing strategies that ensure a business can withstand economic downturns, competitive pressures, and other challenges while continuing to operate profitability
In today’s rapidly changing business environment, it is more important than ever for businesses to focus on survival. A 2021 study by the McKinsey Global Institute found that only 12% of companies survive beyond 5 years, highlighting the challenges of long-term survival. To increase their chances of success, businesses need to adopt a proactive approach to survival and implement strategies that will help them adapt to change, manage risk, and build a resilient organization.