Business in the Post-COVID19 Age: There’s no doubt that the COVID-19 pandemic will leave its legacy on how business is conducted. A significant change in procedures and processes have been brought about since approximately a third of the world’s population went on lock down. As this continues in some areas, and loosens in others, let’s consider the lasting effects on business in the post-COVID19 age.
Digital will become even more dominant
Many businesses are managing and communicating with teams remotely using tools like Microsoft Teams, etc. Larger organizations may be relying on their own internal systems. What we’re seeing are the advantages of automating and streamlining processes that advanced digital provides. This will also be seen with industry-specific technology that mitigates common pain points in operations, and this will also develop to circumnavigate new challenges presented during COVID-19.
Sustainability and efficiency will become more natural
A positive legacy of the COVID-19 pandemic will be a continued reduction in the global carbon footprint. Many companies may decide to make working remotely permanent, where possible, due to the benefits of reduced outgoings and efficiency it provides. Less need for office space will result in significant cost-cutting and savings and therefore greater energy efficiency. With less cars on the road and a reduction in overheads, businesses will become more environmentally friendly.
Business will become more pioneering
Companies that survive the current crisis will have had to become leaner to get through the tough economic times. They will have had to become more imaginative and innovative. The future will provide great opportunities for expansion and entrepreneurialism. Evolving and adapting business strategies will be reflective of the new normal. We will see businesses becoming more pioneering in order to stand out and distinguish themselves in the post-COVID age.
How is your business currently affected and how do you see the future?