The Covid-19 pandemic has spread with alarming speed, infecting millions and bringing economic activity to a near-standstill, as countries imposed tight restrictions on movements to halt the spread of the virus. Many emerging and developing economies were already experiencing weaker growth before this crisis; the shock of Covid-19 now makes the challenges these economies face even harder. With no universal view on complete revival, companies are building new strategies to stay afloat and look at opportunities to reduce costs.
For GBS organizations and their GICs, this presents an opportunity to make good use of the crisis, challenge the status quo and eventually thrive.
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