Companies have tried to maximize profits using a 'lean and mean' business strategy. It blew up in their faces during the pandemic.

AP Photo/Seth Wenig A "lean and mean" business strategy emphasizes a skinny supply chain to maximize profit in expense of other areas of business, such as employee development. These short-order supply chains led to product shortages and disasters during the pandemic. Instead of trying to maximize profit in the short run, companies should invest in their employees and adapt to technological changes so emergencies don't cause a similar disaster. Dr. Art Langer is the Academic Director at the Colu...