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A survey of Middle East business leaders and organisations revealed that 41 percent believed that COVID-19 had a positive impact, compared to only 20 percent globally.
The positive impact, which was most felt in achieving organisational resilience, was attributed to the “effective communication organisations put in place, both internally and externally with stakeholders, in response to the crisis,” PwC Middle East said in a survey report titled, “Building a more resilient tomorrow, today”.
Achraf Elzaim, Forensic Services Leader at PwC Middle East, said: “The high levels of confidence are a testimony to the resilience of Middle East businesses, which have managed to adapt quickly to survive - undergoing a cycle of repairing, rethinking, reconfiguring and, in some cases, restarting.”
Of the Middle East respondents, 84 percent reported general confidence and pride about their organisation’s crisis management programme and communication, compared with 71 percent globally.
Although 73 percent of those surveyed in the Middle East believe they are well-positioned to assess long-term business threats, the investment and adoption of new technologies and IT infrastructure was part of the organisation's resilience plan and they are areas considered as top priority of their overall corporate strategy.
Elzaim said that the significant proportion of regional business leaders who believe their organisations have been strengthened by the crisis illustrates the resilience they incurred to external shocks and corporate cultures.
“It also demonstrates the ability for organisations to adapt at speed and pivot quickly in the face of uncertainty.”
(Writing by Brinda Darasha; editing by Seban Scaria)
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