We live in extraordinary times and that is, perhaps, the understatement of the century. Doing business in the wake of COVID-19 is like waking up without your genitals. Shocking, unfamiliar and a challenge to future couplings and progeny. Still, we must forge ahead, as if we were new pioneers on an unknown shore. It is a time to be agile, flexible and bold, if we are to survive and thrive once more going forward. There are good news stories out there, I have heard a few already.
Agility Is Not Something All Businesses Have Up Their Sleeves
One story involves a local stage building company that has morphed into a work from home desk manufacturer attempting to cash in on the new trend. Unable to garner work building stages because large public gatherings have been banned this mob have turned to go with the flow. They see all these folks forced to work from home requiring desks and infrastructure. It is a time to be agile, flexible and bold if businesses are to survive. Agility is not something that all businesses have up their sleeves and it will take some doing for many firms.
The Drastic Changes Required to Survive in a Post COVID-19 World
I see some dental sedation necessary to dim the pain for many entities locked into established ways of doing things. Root canal is not recommended sans pain relief my friend. For many businesses it will take great fortitude to make the drastic changes required to survive in a post COVID-19 world. Only the fittest and the most flexible will be able to bend around corners to avoid the slumps capable of crushing the economic life out of many. Governments, financial institutions, industry, and unions must all pull together to see out these challenging times.
Some are predicting a resurgence in Australian manufacturing, which would be a great thing in this writer’s view. The message is clear that until a reliable vaccine is produced, we cannot rely on things like tourism, international students and such to pay our bills. Can Australia get smart and buck the historical trend to produce some value-added stuff to sell to the world? Can we hold onto our clever ones and start investing in R & D to create high-tech industries at home? It is a time to be agile, flexible and bold. Come on Australia!