We're in the deep freeze

In just a few months, we see drastic changes due to COVID-19 which have put the economy in a deep freeze. Many companies are struggled in battling the COVID-19 even for small businesses. A sector that was proven to be resilient during a few economic crises also making the brutal choice such as salaries cut-offs or employee lay-offs, in order to win the battle. Few of them are waving the white flag.

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The tech giant is also inevitably impacted by the magnitude of this crisis. They are bracing for similar bigger changes to come particularly in hard-hit industries. 

In the aftermath of 'death of proximity'

In such unprecedented times as these, an immediate pivoting is what’s left on the table. However, shifting the company’s direction and strategy may sound like the next best thing in this particular case. Ever since the 'Death of Proximity' has occurred through the physical distancing, consumer behaviour is not what it was before the COVID-19 pandemic.

It gets worse when ‘infodemic’ of misinformation and cyber-crime flood the consumer screen during the time of physical distancing. It may lead the consumer to no longer embedding your brand in their routines.

Hence, reverberate after rebound

Communication plays a pivotal role and should not be overlooked or understated by any leaders. Continuous communication brings more value to generate more stakeholder buy-ins, and in some cases, shareholder support after you ignite the plan to rebound. 

Hence, you need to consistently drive the conversation to reimagine your business venture since 'business as usual' could no longer exist following the COVID-19. If you weren’t entirely prepared for the pandemic, you’re not alone. However, the positive state-of-mind to prepare for the rebound may help to sustain your business continuity. One way or the other, every leader will need to consider a collaboration.