Prepping Singapore firms for life after Covid-19

WITH almost half of humanity under some sort of restriction or lockdown, companies are scrambling to continue their operations remotely, even as economies appear to be in free fall. Employees are worried about what the crisis would mean for their jobs, while strategists and management teams - whether from firms small or large - are evaluating how their companies should adapt to the changing world.

We lay out three scenarios for how the consequences of the pandemic may affect businesses in Singapore, and offer suggestions on how best to adapt to them.

In the first scenario, which we call a Thunderstorm, both the pandemic and the associated shutdowns globally are temporary, ranging from a few weeks to a couple of months. There will be a significant economic impact, including a sharp but brief recession; however, economic activity post-crisis will resemble the pre-crisis era.