An analysis of what the post COVID-19 ‘new normal’ will look like across 20 industry sectors
Global Futures and Foresight
Global Futures and Foresight’s new report looks at the potential ‘new normal’ following the COVID-19 pandemic. The report examines 20 sectors from Airlines and Automotive to Transport and Technology, and identifies important shifts and suggests next steps’.
Baker McKenzie have produced a report to help identify the most critical transfer pricing issues businesses should be analysing now. Topics include
- OECD Guidelines
- Force Majeure
- Advance Pricing Agreements
- Remote Workforce
- Supply Chain and Losses
The CFO’s role in helping companies navigate the coronavirus crisis
McKinsey & Company
Strong, steady leadership from the finance organization is critical for addressing immediate concerns about safety and survival, stabilizing the business in the near term, and positioning it for recovery.
In the coming months, as employees are struggling with anxiety about their health, their future, and their loved ones, finance leaders must demonstrate empathy—but also bounded optimism that the organisation and its people will find a way through the crisis.
The CFO can back up this view with clear actions and decisions. Regular communication is critical: the CFO must be forthcoming about the “knowns” and the “unknowns.” This will help ease misgivings, decrease distraction, and keep people motivated. Also critical is empowering others in the finance organization to direct aspects of the crisis response while establishing a financial decision-making framework that will help executive peers make necessary trade-offs.
Predicting how attitudes and behaviours will change as a result of COVID-19
Once the virus has passed, what will have changed in the way we think and behave, and how will that affect the way we design, communicate, build and run the experiences that people need and want?
Here are five implications that may affect your organisation to think about:
- The Cost of Confidence: The erosion of confidence will make trust much more important than ever before. Focus will be on confidence-building through every channel.
- The Virtual Century: Anything that can be done virtually will be. Winners will be those who test and explore all of the associated creative possibilities.
- Every Business is a Health Business: A health economy will emerge with opportunities for all to plug into.
- Cocooning: Self-isolation means a return en masse to home as the epicentre of life and experience.
- The Reinvention of Authority: If governments generally get their handling of the crisis right, expect top-down control to be back in fashion; if not, expect the opposite.