Each crisis presents unique challenges, but also unique opportunities. The current global pandemic is no different. Many companies will be severely affected and without financial support are likely to go out of business.
At the same time brands that are fortunate enough to have robust supplier and logistics should try and benefit from situation. Small upstarts may have the opportunity to get into the spotlight and effectively challenge the big old players in their field. Companies with archaic processes and leadership structure may use this time to introduce dramatic changes in their governance and operations.
We don’t know when this pandemic will end or what the long term effects will be. What we do know is that companies that act now on their growth opportunities will have much better future than the ones that are focusing on cutting costs and staff.
This is true even for individuals. Even if you have been let go and are currently on the job market, this would be a great time to sit down, have a think about your skill set and find something that you can spend a few weeks on that can turn into your new career.
Opportunities are always there, you just need to look for them and keep an open mind. A threat for one is an opportunity for another.