The Secret To Business Survival In Today’s Tough Market
25 May 2021
As we were ringing in 2020, it’s safe to say that almost no one could have imagined the novel year that was virtually at our doorsteps. Like a monsoon, Covid-19 arrived, and with it a plethora of changes to not only how we live and work, but how business is conducted.
Quarantines and lockdowns became a way of life, forcing companies to transform how they operate. Office staff, sales reps, and others who were considered non-essential workers began working from home. In-person meetings and sales calls became a thing of the past, replaced by collaboration tools to boost the efficiency of virtual teams.
Even though we’re a year into the disruptions caused by the virus, the economic fallout is still being felt in virtually all corners of the world. According to a Harvard Business Review report, the downward forecast includes a 13 to 32% decline in merchandise trade, 30 to 40% reduction in foreign direct investment, and a 44 to 80% drop in international airline travel.