Responding to uncertainty

We’re all familiar with the COVID story by now.  

Parents juggling working from home and helping their kids with online school. Holidays and large events cancelled due to safety concerns. Video conferences and online get-togethers. Wearing masks, using hand sanitizer and keeping our distance. 

COVID-19 disrupted our economy and our everyday routines. In addition to the health crisis, measures to quell the spread of the virus had economic impacts. Government restrictions and stay at home orders meant both citizens and businesses had to adapt. 

Many studies focused on the sectors most impacted at the start of the pandemic. The travel industry, construction industry, small and medium-sized enterprises, and leisure facilities are often cited to be the hardest-hit. On the other hand, the initial lifestyle changes led to a drastic spike in demand for other services. Online conferencing platforms and food delivery services, for example, became vital tools to help people stay indoors.

Our report Responding to uncertainty: Trusted solutions that emerged during the pandemic explores which industries emerged stronger at the beginning of the pandemic. Beyond the consumer habits that led to their rise, we look at the key business responses that supported this impact. 

As we continue to emerge from the pandemic, we paint a broader picture and present some correlations about agile businesses and new solutions that emerged to minimise the negative impact. Although the situation is volatile, many of the new habits will play a role in our new normal too. Here are strategies that businesses can take to transform and emerge stronger.