There is no single number or data that could tell what would be the impact of Covid-19 could be on the world economy. Reaction of firms, company's, and businesses are unknown.
We are seeing melt down in the global financial market and may indicate that the world economy is on the path of recession. Though the recession risk is there, but let us not take it as a forgone conclusion.
Path back to growth will depend on many factors:
World economy will be different after the pandemic like Covid-19 in a number of ways - crisis can spur the adoption of New Technologies and Business models.
- As Schools have closed in many parts of the world could e-learning mode of delivery of education see a smart break through. While online education is helping to cope with the current emergency, it is also preparing the world for the next future. It is a great idea to build your trusted platform for learning.
- Digital efforts to track coronavirus spread via smartphone trackers demonstrates a powerful new public health tool.
- There is need for a robust delivery management solution - finding ways to reach customers doorstep.
- Take grocery store online to ensure timely delivery of grocery orders at customers’ doorstep
- App based payments to avoid handling cash and reduce their potential exposure to COVID-19
- At this moment, pharmaceutical company's have an essential role to play. People quarantining themselves find it difficult to reach medical stores. Not only those affected by the virus, but others who are dealing with minor or major health issues, are failing to get medicines on time. With right technology, online medicine ensure timely delivery of medicine's at peoples doorstep
- On-Demand Doctors , Nurses , Caretakers - build apps which simplifies the process of booking for medical professionals visiting home
- Fitness & Wellness App - people are increasingly turning to digital workout programs to maintain their exercise routines from home. From online training apps to yoga and meditation apps, the sector promises tremendous growth
Keep calm retain your confidence, communicate with people and teams, make them comfortable, actively collaborate with your partners, reach out to the community.
Work from home is the new normal - worldwide there are millions of remote workers. As we settle down to new routines it is also making us question a constant need to travel during normal times, it is also making us understand new ways of keeping virtual teams engaged.
The transformation of work in organisations is being shaped by technology and talent. Faster computing power, connected devices, Cloud, Blockchain, RPAs are redefining the man machine interface.
Routine and mono skilled roles will be replaced with specialists. Skills like creativity, empathy, collaboration will gain more prominence, as will be there requirement for data scientists, design and systems thinking.
Post Covid-19 world would be led by key enablers like Technology, high level of social skills to connect virtual teams, it will require flexible work policies that allows for people to choose work times that work for them and their role, and leadership that solicits participation and not hierarchy and its purpose led and not power driven.
Acquiring New Skills, Continuous Learning, Expertise, Domain Skills, Leadership Skills - never ever lose sight of them.
