The COVID- 19 pandemic has forced a major business rethink for several companies. Some early signs are already on for how companies are re- strategizing. One way is to digitally transform overnight as the National Health Service (NHS) in the UK has done. Teams will also need to further strengthen their data warehousing capabilities, so that the right information can trickle in. This has been demonstrated by the Corona 100 m app, developed in South Korea. Virtual customer engagement is further set to grow. The Evergrande Real Estate Group, one of China’s biggest in the sector, has ramped up its digital marketing output. Companies now need a reliable provider for these remote services. Likewise, they would need a collaboration platform. A dynamic talent deployer and a data visionary will also be high on demand. The operator is not yet redundant. Instead, the person or system will need to be more flexible but resilient. Remote working however must not impact lively debates from occurring. An external orientation too must be kept up. Likewise, the process structures must not disappear. Such steps will help sustain beyond the current crisis.

Source:https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/innovating-from-necessity-the-business-building-imperative-in-the-current-crisis

Uploaded Date:28 April 2020