COVID-19 as change agent for the next normal

After 16 months pass, and most of the countries in the Delta variant wave of attack. No one knows whether another variant will come after that, but what we all can learn is to take positive lessons from it, COVID-19 as a change agent, for good and for bad.

For good, no one will question, as you saw how the technology driven company’s stock price takes such a short period of time to break all their previous records. For those who provide platform services and do not really own a lot of fixed assets, the new rising stars, become even in the bad times, they do not have a lot of fixed costs for operating.

For those who already have the cash flow problem or start to decline before COVID-19, the pandemic serves as the accelerate the impact, as most of the industry and sector is restricted by close country borders and lockdowns, it makes the existing problems become worse. For example, a lot of companies depend on a high debt ratio to finance their operations, due to the COVID-19 pandemic, their revenue forecast and reality is not able to produce enough for them to settle their short term debt. This is why wave after wave of bankruptcy and sell off take place.

For unusual, we notice company who is produce smart car, despite they only produce maybe 1/100 of the car in the market, compare with those who produce 99/100 car in the market, but their stock price is rise into skyrocket, that why people in general believe they can perform in the future, despite the future still lot of variable, like better smart car producer enter the market or how.

Whatever direction it goes, people from various countries have different opinions. Even came across -5.1 economic growth I saw from the news, which makes it the worst since after world war II. Some countries polish the figure. Some countries cover the impact of the COVID-19, but we are living in the digital economy, it is not difficult to get and be able to interpret all the data and information, to unlock the key message from all the information to know the impact.

Massive layoff due to economic outlook and structural changes, with technology serving as a key accelerator, such as enabling remote-to-work, real time video meetings and communications across distance, we are actually at least 10 years ahead in the adoption of the new technology for such a short period of time.

Instead of blaming the COVID-19 pandemic, accept the reality, adopt a positive mindset and learn how to make and accelerate the change from now onward will be the key priorities for every business leaders and government agencies.

E-SPIN Group in the enterprise ICT solution supply, consulting, project management, training and maintenance for multinational corporations and government agencies across the region. Feel free to contact E-SPIN for your project requirements and digital transformation change initiative.