Unlock-1: Post COVID-2019 Reopening for Reinvention.
Unlock-1: Say Bye-Bye to lockdown, Hello to reopening, Welcome reinvention
After sudden winding down of the business operations for weeks,
companies are being asked to restart their engines at an unprecedented rate as
lockdown rules are gradually relaxed. The challenge is complicated by
uncertainties about the progression of COVID-2019 and the social, political and
fiscal actions that it will drive.
Reopening requires more than a return to normal as nothing is
going to be as it as before COVID. There will be a set of business practices pre-COVID
and post-COVID. However, because the unpredictable and long-lasting period that
follows this pandemic will lead to fundamental changes to economic activity,
fast-changing cultural norms, societal values, and behaviors. To reopen and to outplay
uncertainty also requires a program of reinvention.
The reopening will be more
than just a restart. It will be the beginning of a new era of business. The
rules have changed. Employee and customer behaviors have changed. Demand
pattern will change. The supply chain has a huge change.
But all this creates new
opportunities for the organizations with the courage and foresight to change
more than immediate needs demand. For example, many companies have moved partly
to the cloud. But, having reduced costs in some parts of the business, now is
the time to reinvent and scale cloud adoption across the enterprise, creating a variable cost model and increasing resilience. Those organization, that can
reinvent themselves—their business processes, customer experiences, employee
and social contracts, supply chain practices, Decision-making practices and do so on; will win the game.
This presents an
opportunity—and a need for many companies to build the competencies they wish
they’d invested in before: to be more digital, data-driven, and in the cloud;
to have more variable cost structures, agile operations, and automation; to
create stronger capabilities in e-commerce and security. This agility will be
core to the long-term capabilities they build. The entrepreneur should consider the
steps they take to reopen as the first in a long journey of wider
transformation.
Outplaying uncertainty—by mitigating immediate challenges and building a better future—will
create organizations that one day look back on the crisis as सुबह होने से पहले अंधेरा |
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