Desperate times call for desperate measures - something that has certainly been obvious during Covid-19 lockdowns, where a range of PNG companies have been reinventing themselves quickly in order to keep operating.
While it's true that some new businesses have risen like a phoenix from the ashes to capitalise on new opportunities and some existing businesses completely changed their business models, there is a lesson that all businesses can take away from this period of forced innovation.
Reinventing can be used to describe a wholesale change of direction to a business but it can also be applied across a business unit, a process or other aspects of a business that makes sense right now.
In Episode 7 of Series 5 of the #BLPpodcast, we talk to MiBank CEO, Tony Westaway about reinventing during a crisis and how MiBank is supporting MSMEs throughout Papua New Guinea.