Page 132 - COVID-19: The Great Reset

2. MICRO RESET (INDUSTRY AND

BUSINESS)

At the micro level, that of industries and companies, the Great
Reset will entail a long and complex series of changes and
adaptation. When confronted with it, some industry leaders and
senior executives may be tempted to equate reset with restart,

hoping to go back to the old normal and restore what worked in
the past: traditions, tested procedures and familiar ways of doing
things – in short, a return to business as usual. This won’t happen
because it can’t happen. For the most part “business as usual”

died from (or at the very least was infected by) COVID-19. Some
industries have been devastated by the economic hibernation
triggered by the lockdowns and social-distancing measures.
Others will have a hard time recovering lost revenues before

navigating an ever-narrower path to profitability caused by the
economic recession engulfing the world. However, for the majority
of businesses stepping into the post-coronavirus future, the key
issue will be to find the apposite balance between what functioned

before and what is needed now to prosper in the new normal. For
these companies, the pandemic is a unique opportunity to rethink
their organization and enact positive, sustainable and lasting
change.

What will define the new normal of a post-coronavirus
business landscape? How will companies be able to find the best
possible equilibrium between past success and the fundamentals
now needed to succeed in the post-pandemic era? The response
is obviously dependent upon and specific to each industry and the

severity with which it was hit by the pandemic. In the post-COVID-
19 era, apart from those few sectors in which companies will
benefit on average from strong tailwinds (most notably tech,

health and wellness), the journey will be challenging and
sometimes treacherous. For some, like entertainment, travel or
hospitality, a return to a pre-pandemic environment is

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