skip to Main Content
MSJ NEWS see latest news

Adaptability Can Help Small and Midsize Businesses Remain Competitive Amid Ongoing Challenges

  • Small and midsize businesses can often face greater challenges than larger companies in facing challenges such as those brought on by the COVID-19 pandemic
  • However, the resiliency and agility enjoyed by these companies can also help them adapt to crises
  • Tips on how businesses can improve their adaptability in facing new challenges

Summary by Dirk Langeveld

It’s been a tough couple of years for businesses, with as the shutdowns caused by the COVID-19 pandemic have been followed by numerous other challenges like labor shortages, supply chain disruptions, and rising inflation.

Small and midsize businesses may seem to be in a less advantageous position to cope with such prolonged headwinds, since they are more limited in their staff and financial resources. Yet a recent article in Entrepreneur by Steve Arizpe, president and COO of human resources and business performance consulting company Insperity, suggests that smaller companies have more agility and resilience, allowing them to quickly pivot to adapt to such crises.

Arizpe also offers tips on improving your company’s adaptability, including evaluating your company foundation to make sure it can support such changes; evaluating and updating your business plans, including identifying growth opportunities and soliciting feedback from employees; committing to long-term strategies instead of wavering on policies; and building rapport with employees and encouraging them to offer innovative solutions.

The full article is available here.

Spread the Word

More To Explore

Expert Summaries

Know Your Competitors

By Denis Jakuc 

There are tons of benefits to knowing who your competitors are—what they’re offering, their strengths and weaknesses. That knowledge can help you make your products and services stand out,

Latest News

Join with Free InnovatorsLINK Account

Start accessing all the free member benefits and valuable content on the InnovatorsLINK platform. Create a BizLINK listing to boost brand exposure, receive the weekly Main Street Journal newsletter, engage in forums, get full access to free content, and more.