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What are the big business ideas that will emerge
from the COVID-19 Pandemic?

• With the months passing, the pandemic curve is
  gradually showing signs of flattening in parts of
  the world. The lockdowns are getting eased in
  most countries across the globe, and the economy
  is trying to trickle back into a semblance of
  normalcy.
• And, in the midst of all of this, the ceos are
  slowly moving their attention from protecting
  their business to retooling and recovering. The
  big question now is what did we learn from this
  situation to rethink our strategies and emerge as
  future winners?
• If there is one thing we know for sure, its the
  fact that we cant go back to how things were.
  The post corona business ideas have to aim
  towards creating an adaptable and learning
  business organization that competes with scale
  and speed, in order to sustain in the long run.
• On that note, lets take a closer look today at
  the big business ideas that will emerge from the
  COVID-19 Pandemic.

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The major business themes to emerge out of the
pandemic

• Before delving deeper into the successful
  business ideas to come out of the pandemic, we
  should consider the three major themes that the
  CEOs agree to have become evident in the COVID-19
  situation.
• The flexibility of the work environment The
  work-from-home situation, the shorter zoom
  meetings, the empowered local offices, and the
  swifter cadence have all been a part of the
  flexible work environment in the pandemic. There
  is no denying the fact that the new normal has
  brought a smarter way of working.
• Rapid acceleration of the current trends The
  crisis is believed to have accelerated a number
  of ongoing trends. For instance, digital
  disruption, changing attitudes towards climate
  change, evolving customer behavior, and so on
  were already in place. All of these have now
  accelerated to a point that it needs immediate
  attention.
• End of professional management systems The
  professional management systems that originated
  back in the 1920, are helpful in managing scale
  but also lead to multiple complexities. At a time
  when the businesses need to keep up with the new
  entrants in the industry, they need both speed
  and scale, and dont have the time to deal with
  complexities. The lack in professional management
  was well-exposed by the crisis.

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Refocusing on the finest of local and global

• The businesses, including the software
  development companies, understand that the
  post-pandemic world will need a stronger and
  leaner global center.
• The leaders will have to keep the customer in
  mind while finding the right ways for resolving
  the major business conflicts, such as
• Customer intimacy vs. Scale
• Disruption vs. Routine
• Development of new businesses vs. Delivery of the
  present business

Rediscovering business building to respond to
changes

• As the routine of business building is being
  rediscovered by the CEOs of today, they can
  begin by asking a couple of questions
• How can the weak points be better identified
  while business building?
• How can the teams use market testing to address
  these weak points?
• How to globally scale all the winning prototypes
  to have emerged out of market testing?

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Reorientation of the culture and the talent model

• One of the most inspirational aspects of the big
  business ideas is the effect it will leave on the
  people. In spite of virtually managing the team
  and overhauling the business, the leaders will
  start identifying that people development is
  basically a set of procedures to train people for
  managing complexity, instead of questioning it.
• The CEOs are starting to realize that the smooth
  operators that manage self-created complexities
  are no longer needed. Instead, its important to
  have the ones who can tell it as they see it the
  people who have great strengths in most areas and
  a few weaknesses in others.

The bottom line

• While the crisis is not completely over yet, the
  big business idea has already started to make
  itself clear. There is no reason to snap back to
  the old ways anymore, and the key to simplify the
  things you do and your ways of doing it in order
  to respond faster to changing customer behaviors.
• The customers want you to deliver the right
  signals and take the right approach, but they
  arent going to wait. So, its time to step up
  your game and seize the moment.

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Thank you
bd_at_way2smile.ae
971 04 570 5745
www.way2smile.ae