How COVID-19 is Changing Businesses Worldwide. Are You Ready for Change?

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A global pandemic.  What does it mean in a global economy?

Things are changing fast. There will not be a “normal” in a few weeks as we knew it.

The epidemic will change business relationships.

Since this site covers the financial services industry, it should impact portfolio investment advice and communications—there is no need for more happy-talk client letters. Your clients will not believe you.  Or, if you stick to the same old client advice, your client will know you are out of touch or not authentic. Your firm’s and personal credibility will be at stake if you stick to the old “things will be alright soon” and “market rebound” message.  Your clients know that will not happen.

So, be creative. Be flexible. Many businesses will have to reinvent themselves.

Here are the articles on the changes that are happening now:

From the Wharton School:

https://knowledge.wharton.upenn.edu/article/post-crisis-world-changes-coming/?utm_source=kw_newsletter&utm_medium=email&utm_campaign=2020-05-05

https://knowledge.wharton.upenn.edu/article/apocalypse-supernova-pandemic-changing-u-s-retail/?utm_source=kw_newsletter&utm_medium=email&utm_campaign=2020-05-05

From Politico:

https://www.politico.com/news/magazine/2020/03/19/coronavirus-effect-economy-life-society-analysis-covid-135579

Business Statistics:

https://www.statista.com/topics/6139/covid-19-impact-on-the-global-economy/

STATISTICS ON THE TOPIC:

From Accenture and McKinsey Consulting:

https://www.accenture.com/us-en/about/company/coronavirus-business-economic-impact

https://www.mckinsey.com/business-functions/risk/our-insights/covid-19-implications-for-business

From a Global Perspective:

https://www.aljazeera.com/indepth/opinion/impact-coronavirus-compare-great-depression-200420070542882.html

World Economic Forum:

https://www.weforum.org/agenda/2020/02/why-is-coronavirus-a-global-business-risk/

 

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