The era of new and next normal after COVID-19, whatever term you want to use it, we saw how the majority of big corporations across sectors and industry encounter financial difficulty, due to economic activity will take longer time than usual for the human kind to recover to the pre COVID-19 era.
As the second and third waves continue, for those countries who used to be in control, suddenly encounter usual huge amount of infections, lockdowns and restrictions of movement or certain activity is imposed back. Most of the sector and industry yet to see signs for recovery and either in the downsizing, layoff majority of their workforce and hope for survival in this difficult time. Nope of the country had unlimited resources to back or finance those big corporations (to make it in focus, we ignore to address small and medium enterprise in this post). Each countries government is fully aware of the impact if those big corporation is fall, what is the consequence for the country and the economy suffer it will be in the medium to long run, and each big corporation fall will introduce another problem in the nation, mass layoff or jobless, unemployment rate rise and government need to found a way to let those “unemployed” to be absorb into different sectors and industries. One of the way as you can imagine is to impose restriction or ban for hiring foreign workers into those sectors used to hire foreign workers, who are willing to work and ask for relative lower price than the local. With the hire local first policy, employer need to incur relative higher cost to run the business that already under shrink market condition. It is not about something we do right or wrong, it is reality for most of the countries.
We seek proactive entrepreneurs who innovate and come out with their package offer for either introducing new more economical and affordable products for the market, or digital transformation (DT) with a new business model or involved in the vertical or horizontal integration to aim for value synergy integration. Takeover or merger integration is one of the options to let those big corporations go through this difficult time. It is as popular as downsizing and downscaling the business. Either for merger integration or downsizing, top management must know the business will not be going back to pre COVID-19 time in the short term. Working on the new business model and adopting the digital transformation (DT) to create new business value for the post new and next normal is the top priority for most of the business institutions, including the government agency.
The world has already entered the digital economy since 1990, while 1995 with the first consumer e-commerce transaction, and it transformed the way humankind makes transactions. For those product or service can be deliver via the online digital platform and being consume that way, or eliminate lot of middleman and direct to buyer (D2B), one click online payment and worldwide shipping logistics, transform the world and broken the market habits for lot of things, whether for reading book, magazine and newspaper to instant filter keyword and reading only what needed with the help of search engine, news broker services to even traditional software that required middleman to market as part of the channel to the buyer in the various country in the world (shift toward centralized cloud computing architecture and deliver license subscription).
So, are you ready for the digital transformation (DT) and navigate the sea of changes and lead your business into the right direction and future remain needed business? Feel free to contact E-SPIN for the digital transformation (DT) consultancy, it typical involved the organizational transformation (OT) in certain extent, from reinvent the business model, and layout various change and introduce of the right enterprise technology infrastructure and business application to accelerate the business transformation for streamline the business, automation and assist the business go to market faster, more effectiveness and efficiency.