The panoramic view of the financial hub and some of the busiest streets around the global city were seen deserted and empty during the Covid-19 lockdown. It was the first time when a large amount of cash was burnt by few countries to evade the spread of the flu virus, and the stock exchange collapsed overnight. The virus shooked the economy of the entire world from the core. Post Covid-19, the economists and think-tanks would look for ways to patch the financial crisis. It is assumed that the business facilities will not operate in the same fashion as it used to be, and business owners would change their working protocol to deal with such unprecedented incidents. 1) Agile manufacturing unit ( Pharmacy, chemical, Automotive, etc): Manufacturing units that largely rely on manual workforce would certainly look for alternatives after the corona crisis. They may start investing heavily in the automation process and robots to keep things rolling. The worker may be trained to work remotely with augmented reality technology, or IoT enabled devices. The employees might be kept at a safe distance from each other within the unit, and strict norms for maintaining good hygiene may get enrolled. The thought of 3D printing might become prevalent, and researchers would be asked to develop the ideal working model for future crises. 2) Retail industry: The retail industry may be the worst hit by the Corona pandemic. They might take upto 12- 18 months for complete revival. Not all retailers can afford to have online trading websites; they still depend on local buyers. Post Covid-19, we might see these retailers adopting new models to survive and deliver goods to our doorsteps. They may be seen adapting to the concept of direct-to-consumer delivery and taking orders on phone-calls. The only precaution that consumers have to take is that the delivered goods have not come in contact with the virus in any means. Another concept that is taking shape is BOPIS (buy online pick up in-store). In BOPIS, the consumer orders goods online and decide the place of pick-up. The pick-up place could be a store or even a predetermined pick-up location. The BOPIS shoppers can eliminate the shipping charges usually encountered during online purchases as well as dependency on third-party for delivering goods. 3) Banking and financial sector Post covid19, if you visit a bank and if you see fewer people working on desks, smaller branch networks, and fully digital mortgages, then you should not be surprised. This could be a permanent change in the banking and financial sector. The employee's physical presence would be reduced and encouraged to work remotely. The consumers are expected to embrace the online transaction and inclination for digital solutions. From the operation perspective, there will be a flow of short term loan applicants, as post Covid-19 small businesses surviving on thin budgets may rush to financial institutions. However, the risk of bad loans also looms as the sectors like SMEs, restaurants, travel and hospitality, food industry, etc. may extend the loan repayment deadline. In the middle of all these uncertainties, the banking strategic planning and risk calculation both would be tested. 4) Supply chain: The supply chain is an integral part of any industry. After the Corona outbreak, the companies would like to diversify supply chains from a geographic perspective to reduce supply-side risk. The supply chain can also adopt the following strategy for its business amidst the Corona outbreak. ( Image source: Supply Chain Digital - The Procurement & Supply Chain Platform) 5) Real estate and construction: The construction site involves mass workers working in close proximity. Post Cov19, the site contractors have to enroll strict safety measures and work ethics to protect the laborers. The workers should be equipped with trolleys and equipment that reduce the dependency of other workers. The gloves and mask could reduce the transmission to a large extent. Besides that, throughout the day, laborer's health has to be tracked. 6) IT and service sectors The IT industry and service sectors are fortunate; they can enforce work from home concept on a full scale. About 90% of the IT industry workforce is operating from their home during Covid-19. However, the impact of Covid-19 cannot be ignored. The delay in a project delivering time and acquiring new projects may be some common issues the IT industry may face. In the future, the IT industry might be seen investing in the latest collaboration tools, hybrid or multi-cloud computing, and high-speed 5g internet in their infrastructure. Besides that, the other technologies that would excel post-Covid-19 maybe SaaS App and VDI streaming. These apps empower corporations to give virtual access to the desktop for employees (via VPN). It takes less set up time and quick deployment of remote infrastructure. 7) Oil, natural gas and energy sector The energy supply is generally considered as a matter of national interest. The storm of covid 19 had convinced administrators to take more initiatives towards renewable energy. Post Covid-19, some countries may actively promote solar energy for domestic and industrial purposes. The extraction of oil and natural gas demands a lot of man-force, and in circumstances like Covid-19 the government and private firms see solar panels and other renewable energy resources as viable solutions. It will not risk employees' lives but reduce the load on conventional energy sources like coal and natural gas. 8) Mining Industry (Minerals and natural resources): Natural resource mining is another labor-intensive industry. With compressed air and heat, the place is even more vulnerable to a pandemic like Corona. Essential metal like Gold, lead, manganese, zinc, etc. as great market value and pivots the global economy. In the future, crisis management and employee safety rules in the mining industry may get revised. It is possible the worker load may reduce with high-tech machinery and strategic planning to prioritize the on-site presence of the workers. They might segment the workforce into small clusters, and put them into a job site after all necessary health check-up/ sanitization processes. The other industries that will see a downfall are the travel and hospitality industry, event industry, hotel industry, aviation industry, entertainment industry, SME’s, etc. Their business deals directly with consumers. They may take longer than other industries to revive, as the government may allow only those businesses initially that are quintessential and generate immediate near term revenue having less human interaction.
The panoramic view of the financial hub and some of the busiest streets around the global city were seen deserted and empty during the Covid-19 lockdown. It was the first time when a large amount of cash was burnt by few countries to evade the spread of the flu virus, and the stock exchange collapsed overnight. The virus shooked the economy of the entire world from the core. Post Covid-19, the economists and think-tanks would look for ways to patch the financial crisis. It is assumed that the business facilities will not operate in the same fashion as it used to be, and business owners would change their working protocol to deal with such unprecedented incidents. 1) Agile manufacturing unit ( Pharmacy, chemical, Automotive, etc): Manufacturing units that largely rely on manual workforce would certainly look for alternatives after the corona crisis. They may start investing heavily in the automation process and robots to keep things rolling. The worker may be trained to work remotely with augmented reality technology, or IoT enabled devices. The employees might be kept at a safe distance from each other within the unit, and strict norms for maintaining good hygiene may get enrolled. The thought of 3D printing might become prevalent, and researchers would be asked to develop the ideal working model for future crises. 2) Retail industry: The retail industry may be the worst hit by the Corona pandemic. They might take upto 12- 18 months for complete revival. Not all retailers can afford to have online trading websites; they still depend on local buyers. Post Covid-19, we might see these retailers adopting new models to survive and deliver goods to our doorsteps. They may be seen adapting to the concept of direct-to-consumer delivery and taking orders on phone-calls. The only precaution that consumers have to take is that the delivered goods have not come in contact with the virus in any means. Another concept that is taking shape is BOPIS (buy online pick up in-store). In BOPIS, the consumer orders goods online and decide the place of pick-up. The pick-up place could be a store or even a predetermined pick-up location. The BOPIS shoppers can eliminate the shipping charges usually encountered during online purchases as well as dependency on third-party for delivering goods. 3) Banking and financial sector Post covid19, if you visit a bank and if you see fewer people working on desks, smaller branch networks, and fully digital mortgages, then you should not be surprised. This could be a permanent change in the banking and financial sector. The employee's physical presence would be reduced and encouraged to work remotely. The consumers are expected to embrace the online transaction and inclination for digital solutions. From the operation perspective, there will be a flow of short term loan applicants, as post Covid-19 small businesses surviving on thin budgets may rush to financial institutions. However, the risk of bad loans also looms as the sectors like SMEs, restaurants, travel and hospitality, food industry, etc. may extend the loan repayment deadline. In the middle of all these uncertainties, the banking strategic planning and risk calculation both would be tested. 4) Supply chain: The supply chain is an integral part of any industry. After the Corona outbreak, the companies would like to diversify supply chains from a geographic perspective to reduce supply-side risk. The supply chain can also adopt the following strategy for its business amidst the Corona outbreak. ( Image source: Supply Chain Digital - The Procurement & Supply Chain Platform) 5) Real estate and construction: The construction site involves mass workers working in close proximity. Post Cov19, the site contractors have to enroll strict safety measures and work ethics to protect the laborers. The workers should be equipped with trolleys and equipment that reduce the dependency of other workers. The gloves and mask could reduce the transmission to a large extent. Besides that, throughout the day, laborer's health has to be tracked. 6) IT and service sectors The IT industry and service sectors are fortunate; they can enforce work from home concept on a full scale. About 90% of the IT industry workforce is operating from their home during Covid-19. However, the impact of Covid-19 cannot be ignored. The delay in a project delivering time and acquiring new projects may be some common issues the IT industry may face. In the future, the IT industry might be seen investing in the latest collaboration tools, hybrid or multi-cloud computing, and high-speed 5g internet in their infrastructure. Besides that, the other technologies that would excel post-Covid-19 maybe SaaS App and VDI streaming. These apps empower corporations to give virtual access to the desktop for employees (via VPN). It takes less set up time and quick deployment of remote infrastructure. 7) Oil, natural gas and energy sector The energy supply is generally considered as a matter of national interest. The storm of covid 19 had convinced administrators to take more initiatives towards renewable energy. Post Covid-19, some countries may actively promote solar energy for domestic and industrial purposes. The extraction of oil and natural gas demands a lot of man-force, and in circumstances like Covid-19 the government and private firms see solar panels and other renewable energy resources as viable solutions. It will not risk employees' lives but reduce the load on conventional energy sources like coal and natural gas. 8) Mining Industry (Minerals and natural resources): Natural resource mining is another labor-intensive industry. With compressed air and heat, the place is even more vulnerable to a pandemic like Corona. Essential metal like Gold, lead, manganese, zinc, etc. as great market value and pivots the global economy. In the future, crisis management and employee safety rules in the mining industry may get revised. It is possible the worker load may reduce with high-tech machinery and strategic planning to prioritize the on-site presence of the workers. They might segment the workforce into small clusters, and put them into a job site after all necessary health check-up/ sanitization processes. The other industries that will see a downfall are the travel and hospitality industry, event industry, hotel industry, aviation industry, entertainment industry, SME’s, etc. Their business deals directly with consumers. They may take longer than other industries to revive, as the government may allow only those businesses initially that are quintessential and generate immediate near term revenue having less human interaction.
The panoramic view of the financial hub and some of the busiest streets around the global city were seen deserted and empty during the Covid-19 lockdown. It was the first time when a large amount of cash was burnt by few countries to evade the spread of the flu virus, and the stock exchange collapsed overnight. The virus shooked the economy of the entire world from the core.
Post Covid-19, the economists and think-tanks would look for ways to patch the financial crisis. It is assumed that the business facilities will not operate in the same fashion as it used to be, and business owners would change their working protocol to deal with such unprecedented incidents.
1) Agile manufacturing unit ( Pharmacy, chemical, Automotive, etc):
Manufacturing units that largely rely on manual workforce would certainly look for alternatives after the corona crisis. They may start investing heavily in the automation process and robots to keep things rolling. The worker may be trained to work remotely with augmented reality technology, or IoT enabled devices. The employees might be kept at a safe distance from each other within the unit, and strict norms for maintaining good hygiene may get enrolled. The thought of 3D printing might become prevalent, and researchers would be asked to develop the ideal working model for future crises.
2) Retail industry:
The retail industry may be the worst hit by the Corona pandemic. They might take upto 12- 18 months for complete revival. Not all retailers can afford to have online trading websites; they still depend on local buyers. Post Covid-19, we might see these retailers adopting new models to survive and deliver goods to our doorsteps. They may be seen adapting to the concept of direct-to-consumer delivery and taking orders on phone-calls. The only precaution that consumers have to take is that the delivered goods have not come in contact with the virus in any means. Another concept that is taking shape is BOPIS (buy online pick up in-store). In BOPIS, the consumer orders goods online and decide the place of pick-up. The pick-up place could be a store or even a predetermined pick-up location. The BOPIS shoppers can eliminate the shipping charges usually encountered during online purchases as well as dependency on third-party for delivering goods.
3) Banking and financial sector
Post covid19, if you visit a bank and if you see fewer people working on desks, smaller branch networks, and fully digital mortgages, then you should not be surprised. This could be a permanent change in the banking and financial sector. The employee's physical presence would be reduced and encouraged to work remotely. The consumers are expected to embrace the online transaction and inclination for digital solutions. From the operation perspective, there will be a flow of short term loan applicants, as post Covid-19 small businesses surviving on thin budgets may rush to financial institutions. However, the risk of bad loans also looms as the sectors like SMEs, restaurants, travel and hospitality, food industry, etc. may extend the loan repayment deadline. In the middle of all these uncertainties, the banking strategic planning and risk calculation both would be tested.
4) Supply chain:
The supply chain is an integral part of any industry. After the Corona outbreak, the companies would like to diversify supply chains from a geographic perspective to reduce supply-side risk. The supply chain can also adopt the following strategy for its business amidst the Corona outbreak.
( Image source: Supply Chain Digital - The Procurement & Supply Chain Platform)
5) Real estate and construction:
The construction site involves mass workers working in close proximity. Post Cov19, the site contractors have to enroll strict safety measures and work ethics to protect the laborers. The workers should be equipped with trolleys and equipment that reduce the dependency of other workers. The gloves and mask could reduce the transmission to a large extent. Besides that, throughout the day, laborer's health has to be tracked.
6) IT and service sectors
The IT industry and service sectors are fortunate; they can enforce work from home concept on a full scale. About 90% of the IT industry workforce is operating from their home during Covid-19. However, the impact of Covid-19 cannot be ignored. The delay in a project delivering time and acquiring new projects may be some common issues the IT industry may face. In the future, the IT industry might be seen investing in the latest collaboration tools, hybrid or multi-cloud computing, and high-speed 5g internet in their infrastructure. Besides that, the other technologies that would excel post-Covid-19 maybe SaaS App and VDI streaming. These apps empower corporations to give virtual access to the desktop for employees (via VPN). It takes less set up time and quick deployment of remote infrastructure.
7) Oil, natural gas and energy sector
The energy supply is generally considered as a matter of national interest. The storm of covid 19 had convinced administrators to take more initiatives towards renewable energy. Post Covid-19, some countries may actively promote solar energy for domestic and industrial purposes. The extraction of oil and natural gas demands a lot of man-force, and in circumstances like Covid-19 the government and private firms see solar panels and other renewable energy resources as viable solutions. It will not risk employees' lives but reduce the load on conventional energy sources like coal and natural gas.
8) Mining Industry (Minerals and natural resources):
Natural resource mining is another labor-intensive industry. With compressed air and heat, the place is even more vulnerable to a pandemic like Corona. Essential metal like Gold, lead, manganese, zinc, etc. as great market value and pivots the global economy. In the future, crisis management and employee safety rules in the mining industry may get revised. It is possible the worker load may reduce with high-tech machinery and strategic planning to prioritize the on-site presence of the workers. They might segment the workforce into small clusters, and put them into a job site after all necessary health check-up/ sanitization processes.
The other industries that will see a downfall are the travel and hospitality industry, event industry, hotel industry, aviation industry, entertainment industry, SME’s, etc. Their business deals directly with consumers. They may take longer than other industries to revive, as the government may allow only those businesses initially that are quintessential and generate immediate near term revenue having less human interaction.
