The ongoing global crisis which started at the beginning of the year 2020 has gripped the entire world.
Countries are in lockdown, factories shut and businesses coming to almost a halt.
The COVID19 pandemic has turned around the ways of doing business.
With self-isolation and social distancing being practiced rigorously as a preventive measure, more and more businesses and work processes are going online and adopting remote working by leveraging new technologies.
Social distancing and self-isolation, no doubt is the need of the hour, however, this doesn’t have to result in an absolute abrupt to your business work.
Especially when the world today is so digitally connected and everything is available just a click away.
The most important aspect and which could save further prevent further losses is that of social distancing.
Social distancing in the business sense can be interpreted as cloud meet and can be mapped to virtual meets and other similar models.
Such models allow you to be virtually present wherever needed thus eliminating the need for being physically present.
Now that social distancing is being practiced considerably, it is also making people habitual to remote working and virtual networking.
This can be indeed a one of a kind change as in the wake of the circumstances, many Indian government offices and bureaucrats too are looking forward to adopting such virtual and remote working models who were otherwise reluctant to adopt the new age technologies and had inhibitions for the same.
Besides, virtual meets and other similar models are replacing the conventional business meets and ways of doing business, a lot of other changes can be seen and predicted in work and business ethics.
And social distancing is here to stay for a longer time than expected as it will take quite some time for things to come back to normalcy.
All this makes us recall the very powerful quote below by Bill Gates
“If your business is not on the internet, your business will very soon run out of business”
However this may be true in the broader sense, but this fact to has an underlying detail which has cropped up amidst these present scenarios and doesn’t come to our notice immediately.
Businesses that run over the internet majorly though are able to sail through the present tough waters, however, note, these businesses are the ones which also provide minimum proximity with others besides just being online.
Well, there are a lot of them to validate how social distancing is indeed on the rise.
Uber forms the major example.
Taxi models like uber and ola which practically have more than half of their operations online started to witness a steep decrease even before the official lockdown of cities started.
Cause human interaction and close proximity with other individuals form a considerable part.
Ideally even the uber had their business online, still, it saw a steep decrease.
Another example can be the hi-tech events businesses.
Though a lot of it is online, they have a kickass online presence and enable a lot of work to be done online like vendor selection and a plethora of other processes, but still, they have their businesses to a standstill and this is expected to be for another full year.
Hence saying that businesses that run online are safer is not true absolutely.
So, let’s keep it this way, that businesses which are over the internet but require minimum human proximity yet allowing people to be socially/virtually connected will be the real players in the time to come.
Google hangouts, zoom and such similar models form the perfect example of the same.
Even e-commerce will take an exponential increase as they ensure minimalist human interaction.
However, it is predicted that the e-commerce industry will be a step further.
Amazon and Walmart were already in a race in drone delivery.
It is predicted that the whole of e-commerce too will follow suit as it will replace drones from the delivery rather than delivery partners doing the errands.
Drone delivery will bring human interaction almost negligible.
Therefore businesses that will help maintain social distancing yet help in being virtually connected.
Virtual gaming platforms that will allow people to interact as well as maintain social distance will see immense popularity.
So will, virtual streaming platforms. Netflix party- a chrome extension is a great example.
Who thought that something like “ludo king” which we played during college will come to rescue!
All of the above outlines the fact that social distancing is not just for the present but is here to stay and is set to be an integral part of business ethics and will shape up the businesses in the coming days.
Therefore a lot of uncertainties loom when it comes to how businesses will shape up in the near future.
The above projections were something which we concluded after in-house research and study.
We hope and are confident that covid19 will go within next 5 to 6 months as healthcare professionals are in a race against time to find a cure for this unknown enemy and all preventive measures are being taken around the world to flatten the curve at least.
However, it will leave behind a kind of fear a scar deep in our hearts and mind.
Which will be evident in the day to day choices we make, be it with the food we eat, the way we shop or the way with we work.
Thus this alludes towards social distancing staying here for a little longer than expected.
What opinions do you have and how do you think will the businesses will be impacted?
We will love to hear it from you.
Also, we have also conducted a webinar wherein we tried to identify, predict and address a few points.
To check details for the webinar visit the link below