COVID-19 has been labeled a pandemic by the World Health Organization. Countries across the world are now struggling to contain its threat.
While it first surfaced in China at the end of 2019, the coronavirus outbreak has spread globally with thousands of cases being reported over numerous countries. The epidemic seems to affect countries at different rates but has a generalized negative impact on the global economy. The damage caused is reflected in the decline in international trade and in the stock market turbulence.
In these unprecedented circumstances emerges an urgent need for each business to immediately adapt to this new era. At present, the primary focus of businesses should be on taking measures to protect their human capital. Companies ought to find viable and innovative solutions in order to continue operating with minimum losses and organize effectively their daily routine in a limited physical interaction setting.
For this reason, a great number of organizations have already put into action new practices, such as offering their employees the freedom of working remotely, attending virtual trainings, and cooperating through online collaboration tools.
Source: U.S. Department of State
How could companies adapt in order to come out unscathed from the COVID-19 era? Will they try to create new business models to overcome these obstacles? Do you think that this situation could be the beginning of a new way of thinking, acting and working?
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