Right now, the only effective step taken by every country are a couple of safety measures. This step is not only to reverse the damage that has already been done, but also to prevent any further business or loss of human life. Industries ranging from apparel to gaming, food industries, travel and transportation, every kind of business has been affected. While some of these industries have the potential and capacity to bounce back, others have no choice. Such is the case with the travel industry, as isolation and lockdown has left it with almost no possible bounce-back strategy. This includes not only airlines, but on-land and local transportation facilities such as subway trains and local buses.
Also See: How to Prepare Your Business For an Emergency #infographic
In order for the businesses to run smoothly, the way they function has to be reimagined. At-home entertainment is the biggest example. With all cinema houses closed, movie producers have no choice but to opt for a digital release. Another similar trend has been witnessed in the form of live concerts, with many famous singers performing online. The internet and the mass availability of smartphones has made it possible for businesses to flourish online, including food and groceries. With the rise of COVID-19, many food and grocery businesses that were previously only operating offline, have now enabled online shopping facilities as well. These strategies are better than putting all business and work matters to a halt.
To learn more about the way businesses have changed, have a look at this infographic:
Infographic by: TD Insights
To learn more about the way businesses have changed, have a look at this infographic:
