There is no post-Covid world that we shall get to walk into, yet there is a world where we all live in today, and we shall have to share this world with the COVID-19 for a good number of days to come. The scientists all over the world foresee all kinds of future for our shared living with the SARS-Cov2 in the near as well as the longer term, yet in a world which will live in the constant fear of contracting the COVID-19 the business models being practiced for generations and years might change abruptly and might as well change just forever!
The business community is un-locking upto a world with less power to spend and a sluggish world. The balance sheets of many businesses have gone negative during the period of lockdowns al over the globe along with displacement of labour and disruption of supply chains their exists silent uncertainty over the future of the businesses where there has been felt a need of government support and stimulus packages which will revive the economies world over.
The business models that have found themselves conceived out of greed for profit will take a hit and the only model for the average business will be to diversify into other activities that sustain their lives if not their larger economic interests. Many will find it unable to service their debts, and the growth will be sluggish given the fact that many other sectors that open up to Work From Home as their new normal will take time to transcend into the new normal, as well as there will be a decline in business as usual, across sectors which shall directly hit the consumer demand across sectors.
The new world business models will try to be cost-effective and tech dependent to save money, and they will land up helping the environment in terms of its impact in the longer run. We may see less traffic snarls and less crowded public spaces for a few days, and there will be a growth of the online market place which will break all barriers in the realm of innovation!
All the ancilliary business processes will soon find themselves looking for completely digital data solutions and mobility options where the costs are less and the utility is massive, this means a lot of cheap technology will be produced in the days to come, and the physical world shall be more digitalised with the COVID-19 impact looming above our business community.
From more profit oriented days we shall see a spur in the sustainability mode of business in this world now. The business models shall find themselves evolving and changing goal posts frequently in the months to come as the world unlocks to a scared world.
There maybe a possibility that the way the world does business today with each other might change forever, and the people take it to different and other calculations such more national preference and protectionism which will create a shift in the global employment patterns as well, such changes will also push more crafts and industry that requires more creative ways of tackling the unemployment and lack of avenues for business in the post-covid19 world.
There frugality of all the business models post this lockdown will imply cost cutting and generating more cash reserves over inflated loan books, this shall bring about a change that may be a good sign for the world.