In what ways may conducting business change after the COVID-19 lockdown?

The post-COVID-19 world will be very different, in which business activities will become more cautious, distant and technological.

Photo by Marten Bjork on Unsplash

First of all, the COVID-19 pandemic reshapes supply chains, businesses become more vigilant about choosing the right sources. This process, which had already begun during the US-China trade war, was when businesses sought to evade US taxes, but is now accelerating. Instead of focusing on optimizing efficiency, businesses will turn to optimizing resilience through supply diversification and replenishing inventory (The Vu, 2020).

Photo by Reproductive Health Supplies Coalition on Unsplash

Secondly, distant working methods will become a new trend with the explosion of remote communication tools such as Google Hangouts, GotoMeeting and Zoom. There will be more Zoom and virtual meetings going forward, that “increases work-from-home footprint and team member flexibility and choice” (Mark Pringle, 2020).