Working from Home 2.0
Many businesses have experienced the need to have people working from home because of the COVID-19 pandemic, and lots of companies are now rethinking their entire business model. They are raising questions like, “Do they still need offices?” and “Is this a better and more cost-effective way of working?”.
But if we are being completely honest with ourselves, productivity has gone up for businesses, but the way people work from home is not necessarily great for everyone. Some people have comfortable and well-designed offices in their houses with all the equipment at their disposal. Some people prefer to work from their kitchen table and are more comfortable. All in all, businesses need to start supporting individuals working from home and give them the right computers and equipment. More importantly, businesses must provide their employees the mental support to work without stress.
Business Hodel Innovation
Businesses need to reflect on “What are we offering our customers?” and “How do we operate as a business.” We have seen recently that many industries have been completely transformed during 2020, whether it is the hospitality industry, event management industry, etc. Offering flexible working environments opens the door to a multitude of employee prospects.
Businesses that have thrived in these difficult times are the ones that have been able to react to this situation quickly. Even without the pandemic, businesses were always required to think about how the market was shifting and how we transformed our business model to adapt to the new norm. This adaptability and innovation of the new model are more important in 2021 was last year.
Virtual Interfaces
This is another big trend where brands need to rethink how they deliver some of their services in a digital format. Technology like augmented, virtual, and mixed reality have transformed how we think about customer service.
During the pandemic, people realized that it is not an obligation to visit a shop to try makeup when an app allows you to apply that makeup digitally on your face. Trying and testing products before purchasing them from the comfort of your couch is something that sounds inspired by a sci-fi movie.
Automation
Businesses have been looking at their business processes and where we can take people out of the process as they are not genuinely adding any value. So, we have seen this in warehouses in supply chains, automated vehicles, trucks, and ships driving autonomously. This is just the tip of the iceberg, as businesses have advocated the idea of automation in pursuit of minimizing human errors.
In 2021, it is expected that we will witness a boom in white-collar automation. For instance, if you look at the job of a doctor or a lawyer, professionals are trying to rethink how they can automate bits of their careers through artificial intelligence. Healthcare organizations are thinking about how they can educate patients to help save them money and time on the commute.
From Global to Local
What we are seeing in this economic and political climate is that the supply chain is being disrupted by the coronavirus. Great tension is also being observed between economies like the US and China. All of this means that companies need to rethink where they are getting their goods from and to whom they are being sold.
We see a significant movement towards more localized business operations and processes here. Consumers today are more aware of environmental issues and realize that they can grow their food locally rather than ship fruits and vegetables from across the world and be more self-sufficient.
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