It is without a doubt COVID-19 is drastically reshaping how we live and work. As a result of the immediate and long-term adjustments being made in response to the virus’ effect on health systems, the economy and working patters we are entering a ‘new normal’ that will look significantly different from where we are today.
Whether they know it or not all organisations are now undertaking a Digital Transformation journey, however not by choice. Mandatory instructions to work from home where possible, now in force in many countries across the globe, are stress testing organisations digital maturity and ability to maintain core business operations with either a full or partially remote workforce.
Up until now, firms have been working hard to set up crisis management teams and procedures so to get a handle on the immediate impact, but it is the medium and long-term responses that will have a lasting effect on an organisation’s culture, stability and ultimately longevity. In this vein, firms should seek to re-frame these unusual times as an opportunity to seek alternative and perhaps non-traditional ways to deliver value to customers as new social norms, behaviours and preferences start to take root. What is clear thus far is that the pace at which businesses can react and adapt to new customer behaviours will be one of the key determinants for surviving this turbulence.