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CEO — Now Needs to be Disruptive, a Transformer

– to Reengineer by Creative Destruction

In a post COVID world, the CEO has to revisit the past, reengineer the present, crystal gaze into the future and possibly relook at what to keep and what to let go.

As everyone grapples with COVID which will not go away soon, the business model has to be “Unlocked”. The unlocking will take different dimensions, with different sectors, different regions-countries, and opening up in different ways and at a differing pace. The virus resurgence will likely bring about renewed restrictions.

In situations such as the Great Depression in 1920, the World War II, the Financial Crisis of the 90’s a CEO had to be adept at the P&L, productivity metrics & number crunching, spending time to decide on launches and reenergizing the PLC.

However today these factors are hygiene and the need is the ability to have an extremely high EQ and a personality to integrate with the teams as they get more result oriented, ready to experiment and more tech-savvy.

Integration is required across teams, which now meet on cloud meetings viz — ZOOM, across time-zones, departments with the absence of geographical boundaries. A CEO and an aspirant needs to be ready to disrupt, be tech savvy and highly EQ enabled to manage the emotional upheaval people will go through as everything around them changes — have the intellect to identify trends, be courageous to plan on what to keep and what to let go and be able to handle diversity of thought.

Mckinsey in its article, The Toughest Leadership Test avers “The pressures can seem daunting. Coping with the sudden shutdown of the global economy was hard enough; figuring out how to restart in such an uncertain environment is, if anything, even harder, many told us. CEOs are expected to show “deliberate calm” and “bounded optimism.” Everyone wants them to demonstrate empathy — and, at the same time, be highly engaged and fact based in their actions. They are expected to make a positive difference in people’s lives with their leadership and wield both telescope and microscope adroitly”

It is said that a crisis brings about the best & the worst in people and separates the men from the boys.

The moment of truth for the CEO is to- Reimagine the Business, to Reengineer and maybe destroy the “old way of working” and adapt to the NOW, and also manage the family at home and keep smiling.

As a CEO are you ready?

Reboot to a New Normal ? Some Trends

The world would have changed; dramatically after COVID settles down ; like the AVENGERS Endgame or an X Men movie the time-line for the future seems to have altered.

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The world economic order would have changed, the social interaction, recreation, education and even relationships would have undergone a transformation. The most pressing question is – what will be the new normal?

I am listing some trends that have taken centre stage in these uncertain times, and might possibly become the new normal in a post-COVID world too-

Social Distancing –

Concerns on safety today will get people used to meeting less and interacting more through technology. There was a time when everyone felt that technology and apps were irritants and interruptions; they have now become the basis of any information and communication. Even “Social Distance” marriages are getting formalized and celebrated online!

Productivity & Efficiency –

Meetings on Zoom, Microsoft teams, Google Duo is making people understand that even through distances trade & commerce can happen… it is difficult to learn all of it immediately , but work from home and learn from home will be the new drivers of various business models . Enterprises and students are realizing that unnecessary travel, meetings at brick –mortar locations apparently has been a drain on “human energy & finance”

An Exploding Digital Economy –

The digital connect for commerce will be the way to go around and possibly the time of a global currency, “contact less exchange of value “will again take route. The penetration of smart phones and mobile connections which is over 80% globally is set to grow https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology-media-telecommunications/us-global-mobile-consumer-survey-second-edition.pdf.

Sweden has already started exploring digital currency, even before COVID took centre stage, it will only gain more traction. https://www.reuters.com/article/us-cenbank-digital-sweden/sweden-starts-testing-worlds-first-central-bank-digital-currency-idUSKBN20E26G

Disruption in Industry Structures & models –

Travel agents will perish at the hands of sites like booking.com, Expedia and so will any industry which has middle-men as an integral part of their model. https://disruptive.asia/covid-19-digital-disruptor/

 Businesses and industries will be struck by creative disruption and even creative destruction.

Education will possibly evolve & have new online models, where the best of University education will be available from home and companies will build their recruitment along these lines, factoring in the practical experience which would be brought in by guest lectures and interactive gaming.

Shifts will happen from discretionary spending to essential spends, brand trends , online news will become the norm and so will be the association with social causes. Distribution reach will not be the key anymore, as market places like Amazon will help innovators reach to the consumers.

Consumer Behaviour Shifts –

Consumer behaviour will evolve and buying sentiment would change ; and it would be even more difficult for brands to build & retain leadership. Testimonials will drive consumer opinion and purchase patterns. Every consumer holding a mobile connection will need to be targeted individually and the product, pricing will become extremely customised. Possibly the only thing which will remain constant is the “brand look & feel”. Gen Z, Baby-boomers , Silent generation all of them being poles apart in their buying behaviour , will further experience  “distancing” as companies will strive hard to have “Audience Specific Marketing “  & product offerings .

The question is, are we preparing for it? Psychologically, technologically & upgrading our skill sets? Are we enhancing the skill sets of the ecosystem we live in , work in ?