Article by Bill Fonvielle
These are strange times. As an optimist looking for a glimmer of hope, I compulsively read about what will happen when this crisis is all over.
Many economists predict a sharp upturn in business activity, the upturn being steep as the downturn was. On the far end of the scale, a few predict a global depression that will make the Great Depression seem puny.
A common theme that I hear is that “things will never be the same again.”
A new growing dialogue has emerged on “what will be the new world be like?” Or, in other words, “what will be the new normal?”
So, let’s join that dialogue. Two questions for you:
How will the new world be different? Some ideas to stimulate your thinking are:
- Will more businesses have moved towards the triple bottom line B Corporation idea, a more holistic “all stakeholders” approach?
- Will electronic networking and video conferencing plus home working mean a dramatic drop in the need for office space? Will there be a consequent property crash?
- What will change in working practices now that we are much more aware of the benefits of flexible, virtual and remote working?
- What will the leadership of highly devolved companies look like?
- What will the corporate appetite for risk be?
- Will companies need to have greater reserves, like banks do now?
- What will happen to the gig economy where there are very few protections and employees may seek to find ways to reduce risk?
In the normal pre-coronavirus world expectations don’t change quickly. In an abnormal world we are certain they do. So, how will the expectations of the following change: