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The Impact of Covid 19 On Businesses | Bernard Marr | YouTubeToText
YouTube Transcript: The Impact of Covid 19 On Businesses
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Video Transcript
the coronavirus pandemic
has transformed businesses it has been a huge
huge
challenge for many industries and for
many organizations
but it has also offered some
opportunities so in this video
i want to talk about the six biggest
impacts and
trends that have come out of the
coronavirus crisis
that will be very important for
working from home 2.0 what lots of
businesses have experienced
is that they had to have people working
from home because of the
coronavirus pandemic and lots of
businesses are now rethinking the entire
business model they're really thinking
do we still need offices
but if we're really honest with ourselves
ourselves
productivity has gone up for businesses
but the way people work from home
is not necessarily great for everyone
there are some people
that have amazing and comfortable offices
offices
in their houses they have all the
equipment they can do this very well
there are lots of people that work on a
on a kitchen table
that haven't got a comfortable chair so
what businesses are now really need to
do is they need to reimagine
their own workspaces their offices and
really support people working from home
so they need to
give them the right office equipment the
right computers comfortable chairs the right
right
setup and also the mental health support
and everything that goes with it to
really make sure everyone can work from home
home
business model innovation what we need
to do now
is to really reflect on what are we
offering our customers how do we operate
as a business
what we've seen is that lots of
industries have been
completely transformed during 2020. we
see this in the hospitality industry in
the events
industry and businesses that have
carried on thriving are the ones that
have been able to react to this really quickly
quickly
if you are a restaurant and on day one
of lockdown you
really rethought your restaurant and
made sure that you have take out uh abilities
abilities
and there are companies like even the
formula one companies that were
producing ventilators then this is
something businesses have always needed
to do
think how is the market shifting and how
do we transform our own business model
and innovating your own business model
is i think more important in 2021 than
ever before
virtual interfaces is another big trend
where we really
think about how can we deliver some of
the services in a digital format
especially using things like augmented reality
reality
virtual reality and mixed reality
again during the pandemic people realize
actually do i really need to go into the
shop to try on makeup
if i can use an augmented reality app
that allows me to put the makeup on and
try and test it
do i really need to have a consultation
with a fashion
advisor if i if my virtual avatar can
try this on in vr
and i can actually place this in the
different settings be there's a war room
or an office environment
to see what the clothes will actually
look like from all different perspectives
perspectives
so this whole try before you buy in this
new world of virtual interfaces
will continue in 2021 and will transform
how businesses
offer their services
automation what businesses have been
doing is they've
looked at their own business processes
and said where can we take
uh people out of the process where they
are not really
adding true value so we've seen this in warehouses
warehouses
in supply chains we now have automated
vehicles we have trucks and ships
driving and sailing autonomously
and we're seeing this in in lots of
business operations where we now have
chatbots that can replace call centers
or at least a big part of it
and more more what we'll see in 2021
is this white collar automation where we
think okay
if we look at the job of a lawyer the
job of a
doctor for example which bits can we
actually automate which bits can we give
to artificial intelligence
and smart robots and this will carry on
and we're seeing this already i work
with so many different organizations
that are rethinking the way
education is delivered healthcare is
delivered and even
many of the services we're used to are delivered
delivered
through automated interfaces
going from global to local what we're
seeing in this current political
and economic climate is that we have
seen supply chains being disrupted by coronavirus
coronavirus
we're seeing increasing tensions between
um the us and china we're seeing
brexit being delivered in europe and all
of this
means that companies need to rethink
okay where am i sourcing my goods where
am i selling my goods and what we are
seeing is that there's a big movement
towards more localized buying more
localized manufacturing more localized
selling and this is also a movement towards
towards
more environmental awareness because
what people realize is okay do i really
need to ship
my food and vegetable from across the
world or can we grow this locally and
sell this locally so this is a big trend
where businesses really rethink
where their products come from and where
they're going
social engagement what companies need to
do is they need to make sure they engage
with their customers and potential
customers across social media
this has become such an important
channel especially during the pandemic
that we're going through at the moment
and businesses that haven't got a strong presence
presence
simply feel a bit lost they suddenly have
have
lost access to customers so what we're
seeing here is
that there's a big push towards a more authentic
authentic
presence on social media this that is
less curated by
communication experts but we say this is
these are all real people working for organizations
organizations
these this is a real behind the scenes footage
footage
and especially a big trend that goes
with this
is actually engaging influencers not
necessarily the massive
million um subscriber influencers but even
even
micro influencers that are influential
in your industry
this is something we need to as a
business you need to really think about
who are the key people that
are driving those conversations across
social media that have built some trust
and how do we engage with them to bring
i hope that was useful if you want to
learn more about any of these trends
head to my website where i have hundreds
of articles
subscribe to this channel where you can view
view
hundreds of videos on any of these
technology trends
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