The strategy of an organisation is developed in light of its stated purpose, goals, and core values. To increase revenue, businesses often employ horizontal integration strategies, such as mergers and acquisitions, to increase their customer base, product offerings, and market share. Tools like SWOT analysis and PESTEL analysis can be used to help corporations determine how best to position themselves in the marketplace. Currently, organisations are frequently switching between models of strategy development, such as adopting the Strategic Alignment Model (SAM) to better link the strategy to products, customers, and revenue through product and service diversification, broader market penetration, improved customer relations, and a more compelling consumer value propositions. According to Baden-Fuller and Haefliger (2013), a firm’s strategy ought to dictate the scope and depth of its products or services, channels of distribution, and market segments. Investing in a sufficient quantity of time and energy allows for the creation of assets that are resilient and capable of being used frequently and efficiently. Products, marketing, and distribution channels are all affected by resource costs and availability. Essential product, channel, and market decisions must be integrated based on the balance of resources and market relations. To attract more customers, organisations might want to look into things like diversifying product offering, expanding marketing budget, rewarding loyal customers, and so on.

The sharing economy at Covid-19 was a great illustration of how a change in business strategy can have far-reaching consequences for products, services, and customers. Organisations needed to find ways to rethink their business models, day-to-day operations, and communication channels in the face of this “low-chance, high-impact event” (Accenture, 2020). Companies participating in the “sharing economy” have resorted to tactics such as moving their operations online, creating more flexible terms for contracts, cancellations, and returns, and updating or altering their core offerings. Putting a stop to something either for good or temporarily like the ride-sharing service Lyft (2020a) that temporarily halted its operations. As a result of the epidemic, several businesses have adapted the SAM model and moved to exclusively digital channels of customer interaction and product distribution (Accenture, 2020). In order to encourage responsible behaviour, businesses have implemented solutions including “cashless payments, click and collect methods, physical distance consumer and staff, [and] enhanced cleanliness practices” (Baum et al., 2020). To locate and retrieve a bike, Toronto’s Bike Share system recommended using the Cycle Finder mobile app or the Bike Share website (Bike Share Toronto, 2020b). Uber Eats recommends the “leave at the door” option so consumers don’t have to interact with drivers (Uber, 2020a).