In 2020 an unprecedented disruption to “business as usual” hit the Globe with a pandemic of a disease called COVID-19. From accelerated digitization of the workplace with millions suddenly working from home, to manufacturers pivoting and actually changing their products to help the world cope with new and sudden needs, never before seen or experienced phenomena are happening in businesses around the Globe, with analogies that have been made to both the Great Recession of 2008 and World War II. We decided to do a deep dive into how COVID-19 is impacting our global customers so we could share this crucial data with them and with you, the reader. Why are people in sectors from the life sciences to maritime innovating? Where are they doing it? How successful are their efforts? We surveyed our customers, our speakers and thought leader contacts of Informa Connect, to ask them how their organizations are responding to the crisis.
Our initial research told us that the most important changes happening right now in organizations fell into these categories: how organizations manage crises, both before and after COVID-19; the shift to online and working from home or other changes in the workplace; how companies are trying to be relevant to their customers; and lastly, how they have applied innovations with new business initiatives or products and creating efficiencies.
We’re offering our exclusive findings here, in this first-of-its-kind multi-sector report on The Future of Business Post COVID-19. Our survey results show that novel coronavirus has indeed been a disruptor, but in many cases companies have been able to turn this disruption into a positive force, by innovating and accelerating the creation of new products as well as cultivating deeper relationships with their customers. Explore or download the report above (or click here). Key Insights
- 87% of respondents feel that the crisis has impacted the need for digital transformation in business.
- 34% developed a new product, service or business initiative in response to the crisis; 40% introduced initiatives to better connect with customers; 26% accelerated development of an already planned product.
- 47% of respondents put in place a dedicated crisis response team to respond to COVID-19.
- 85% believe their organizations can cope with at least some of their staff continuing to working from home. 43% believe their companies can cope with large numbers of staff doing so.