It will be quite some time before we understand the full impact of the Covid-19 pandemic. But the history of such shocks tells us two things. First, even in severe economic downturns and recessions, some companies are able to gain an advantage. Second, crises produce not just a plethora of temporary changes (mainly short-term shifts in demand) but also some lasting ones.
Any analysis of growth opportunities must go well beyond a simple categorization of what you already know. You need to challenge your ideas about what’s happening in your traditional business domains by taking a fresh, careful look at the data. This requires that you actively seek out anomalies and surprises.
To figure out what business model the new normal requires, you need to ask basic questions about how you create and deliver value, who you’ll partner with, and who your customers will be. As an example, let’s look at how retail shopping businesses should be adjusting to the demand shift to digital.
The Covid-19 pandemic has severely disrupted global consumption, forcing (and permitting) people to unlearn old habits and adopt new ones. A study on habit formation suggests that the average time for a new habit to form is 66 days, with a minimum of 21 days.
Jacobides, M. G. & Reeves, M. (2020). Adapt Your Business to the New Reality. Harvard Business Review, 98(5), 74-81.
Mark Kalin je izkušen manager, podjetnik, innovator, mentor, predavatelj in strokovnjak za vzpostavljanje inovativnih ekosistemov in transformacij kultur ter strokovnjak za vzpostavitev visoko zmogljivih virtualnih timov, z zelo bogato izobrazbo in poslovnimi izkušnjami.
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