Weathering Covid-19 storm through trust and technology

WE CAN be sure of one thing - there is uncertainty around what the world will be like post-Covid-19, and this is making it difficult to predict the future of the economy.

Certain mega trends in the pre-Covid-19 world have accelerated during the pandemic, while others have slowed. For instance, digitalisation of processes and virtualisation of work have picked up pace. We are also observing the rise of pop-up ecosystems, where organisations come together to handle the value chain disruptions, instead of tackling them on their own. On the other end, we have seen a dramatic slowdown of the gig economy and urbanisation due to the disrupted movements of goods and people globally.

Ironic as it may sound, organisations need to make decisions today to shape and influence their future success despite continued mixed signals about the timing and shape of recovery. As management guru Peter Drucker famously observed: "The greatest danger in times of turbulence is not the turbulence itself, but to act with yesterday's logic."