Turning Threat into Opportunity for Businesses During the COVID-19 Pandemic

A simple look at the world of business will tell you that the rapid spread of Corona virus is making various complications by its short-term and long-term impacts. Whether this new reality is made of opportunities as well as complexity and uncertainty is a frequently asked question. Is there a possibility to take advantage of the cruel COVID-19 despite all its negative outcomes?

The new face of the world has demonstrated the idea that businesses can stick to a plan is an illusion. It is a paradoxical fact that Corona virus, by rewriting the future business plans, seems to make benefits for both businesses and consumers. Decision makers and leaders have to be attentive by seeking for waves in order to navigate properly in the world of business.

Here are several highlighted aspects the bitter Covid-19 is changing the world of business for the better and the area which would be possibly benefited:

1.     The pandemic has disrupted organizations by forcing individuals to adapt themselvesin new remote-working environment. Accordingly, regarding the existing concern about employees' health and well-being, companies have considered new policies to adapt remote version of working. This situation provides the opportunity for digitally based applications to go first in order to organize the professional life of individuals.Web-based applications for video conferencing and applications that provide the possibility of file-sharing and keeping members engaged, seem to be the winners of the new normal.

2.    As businesses have to rely on online approaches and direct-to-consumer relations to sale products or services and support consumers through after sales services, companies are encouraged to invest in technological approaches that are more forward-thinking than the standard ones.

3.     During quarantine period, the pleasure of shopping seems to be faded away. Needless to say, online shopping websites, delivery service companies and online payment tools have found this as a great opportunity to tie together in order to generate revenue from the market and upgrade the popularity of their brand by providing an easy social distancing era.

4.     The shock of pandemic resulted in the closure of academic centers at first stage, but agile institutions soon adapted their infrastructures and education cultures to response the change quickly and in some cases more efficiently. Institutions which provide educational stimulation services or publish educational content are taking the advantage of current global threat.

5.     Alongside the new reality of living and stay home motto, people are constantly searching to temper the surge of medical information looking forward to decrease the tensions and risk of being exposed to depression. Thus, people are pushed to develop new ways for staying connected and still have fun in lieu of face-to-face contact. Therefore, it might be a perfect time for businesses to make considerable progression out of these unprecedented opportunity by developing entertaining platforms such as virtual communities, high quality video chatting, throw party applications, live performances, cooking and art training videos, meditation and yoga training, virtual tours, daily exercise plans, virtual reality games and podcasts. 

6.     In recent months, the world has touched a new juncture of disease and architecture, where fear of infection controls what kinds of spaces we want to be in. During quarantine we are asked to stay in our own cramped spaces which lack fresh air and privacy. Spending too much time quarantined in places that are almost designed based on our minimalist life-style might lead to frustration. That is the absolute reason why creative interior designers got very busy during past months by breaking the conventional designs.

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