Business is on the verge of death as coronavirus pandemic hits countries all around the globe. Considering the impact, the pandemic even helps businesses shape their new normal.
Besides the way a business operates, this new normal will also greatly take effect in the idea of a business itself. In other words, the pandemic will significantly change the mindsets and cultures of the whole business community, specifically the C-levels.
To better prepare their businesses for another possible uncertainty at a massive scale in the future, CEOs are looking back to how companies acted during the World War II. Despite the dissimilar circumstances, companies are facing extraordinary restrictions during both periods.
Among the changes, these are the arguably essential differences right after the pandemic.
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Mass-Adaptation
The new normal narrative does not solely mean that people’s lifestyles will utterly change. This, in addition, will also affect business operations, potentially marking the end of an era.
The pandemic appears to remind companies that they have to evolve to better prepare themselves in facing other uncertainties. For instance, companies will adapt future trends, such as cloud and AI, faster than the expected to organize their works more appropriately.
Local Power
With the collapse of supply chain management all around the globe, companies will most likely re-distribute their supply chains. Instead of centralizing it, companies will tend to decentralize it.
That said, international or multinational companies will strengthen their local branches more than ever in order to avoid a total domino-like collapse. Apart from that, collaboration with local companies can potentially be more common to happen.
Business Continuity after Pandemic
Last but not least, business will also have to develop their continuity plan more. This is so by creating as much alternatives they can think of under several possible difficulties.
However, what companies can learn from COVID-19 pandemic is that such continuity plan cannot be exclusive to certain people or departments. Every employee should be capable of conducting so and it will be a must.
