Covid-19 has had a profound impact on society and economies worldwide, creating unprecedented levels of disruption. As lock-down measures relax and economic activity returns, businesses globally are responding; many out of necessity, some as a matter of survival. Others see a unique opportunity to transform or to pivot their business to win in the ‘new normal’ that is emerging.
Revenues, that for many have been decimated, need to be rebuilt as businesses target growth leading many to also strategically reduce costs to restore profitability. Consumers and business who have raced up digital adoption curves over recent months won’t return to the way they were, accelerating digital transformation and opening a door for a paradigm shift in the way we work. Supply chains that were challenged pre-crisis have been shattered over recent months creating an urgent need for change. And climate change, perhaps the defining theme of our times pre-crisis, is more important now than ever before.
These six themes are shaping our new normal. The winners will be those who respond, embracing the crisis as a catalyst for change.