Business model rethinking. A reaction against extraordinary events in the business scenario

The purpose of this chapter is to analyse the main reactions to extraordinary events (i.e. COVID-19’s impact) that the top management team (TMT) can put in place to rethink the business model (BM). The latter has been largely revised because of the effects provoked by COVID-19 and the growing attention placed on sustainability issues in operational processes as an appropriate and effective response. There was an urgent need to implement prompt actions and make the related transformations more effective. In this regard, TMT opted for cash crisis management, working capital improvement, strategy stress test, changes in the supply chain model, revision of risk management and adoption of a cybersecurity crisis plan. In other words, the fil rouge that binds each of them pertains to the increasing magnitude of sustainability.