A good friend from high school calls the period after we stop lockdown “the After”. As I teach university as well as run a think-tank, the discussion comes up about business models in ‘the After’. How will airlines operate with enhanced social distancing? What happens with restaurants, can they change seating plans to have a “corona immune” section? Will the emphasis be on local business sustainability, to the determinant of Amazon? Are we moving from the experience economy to the cooperative economy?
I have a couple of immediate predictions:
Countries that now rebuild tech infrastructure (5G, IoT, contactless payment, etc) will get further ahead in bulletproofing their economies. WFH will be a reality for many years, and the platforms to do so need to be better scaled.
Governments that re-skill the population to 21st century work forms will survive more fully in the long term. Automation is king, protection of poorly trained workers benefits no one.
Supply chain agility will continue to be a big thing, as companies who quickly and without prompting converted to face mask, PPE and surgical scrubs will be remembered as innovators and their brands will benefit. (CSR)
Personal privacy will take a hit in the near term, but to the benefit of society as long as there is oversight on how the data is used.
You can bailout whomever you like, but if the consumer does not feel that was a worthwhile action, it will impact consumption. Not only elephants never forget…
Supporting local industry will be a priority for many communities who will remember what it was like to have scarcity at a time of crisis.
Much more to come, business model process innovation is my favorite thing next to chocolate……