New Normal

New Normal: how has Corona changed your company?

Corona with two lockdowns has hit every company worldwide. There were crisis winners, but also companies that had to file for bankruptcy. A pandemic like Corona has a significant impact on companies. Nothing will be the same afterwards, even if many are calling for a “back to normal”. So there will be a new normal after Corona for companies. But what will this look like in your company? What lessons do you draw from the past few months? What opportunities arise in the longer term and what risks should one be prepared for? Now is a good time to do a business analysis. Using a New Normal analysis , the main influences of the Corona Pandemic can be easily evaluated for your company.

A simple method is enough

In order to determine how well your company is prepared for the changes caused by Corona, you do not need complex analyzes or even a team of consultants. A simply structured method such as the SWOT analysis that you carry out with your employees is sufficient. Strengths and weaknesses are always taken in direct relation to the company and in comparison to the competition. In other words, insights that are homemade and influenced by the company itself. Strengths and weaknesses classifications are aimed at the nearer past or present. It answers the question of how the company has been positioned in recent months or how it would currently react. Chances (opportunities) and risks (threats), on the other hand, are future-oriented and are brought to the company from outside.

The SWOT analysis is one of the most popular strategic management tools and can be developed quickly and easily in a team. The general SWOT method is used here as a focus analysis, in that the evaluation is always seen in connection with the influences of Corona. These influencing factors and concrete changes are considered and their effects on the company are described.

The New Normal – Home office and remote work

For many employees and employers, working from home will remain an integral part of the work culture in the future, regardless of what the political regulations will be. So how was it during the lockdown period?

Assign the following factors as either strengths or weaknesses . In writing, you should evaluate each of these points in relation to your situation:

  • Employee management and communication online
  • Working remotely in a team
  • Use of technical tools such as video conferences, online collaboration platforms
  • Process flows in the company
  • speed of decision making
  • Equipped with high-performance hardware and software
  • Technical infrastructure of employees at home
  • Implementation of corporate changes (new organization, processes, new products, services, etc.)

Think about the opportunities that will open up for your company in the future:

  • Reduction of office space / shared office concepts
  • New options when choosing a location
  • Reappointment of managerial positions
  • ways of motivating employees
  • Attractiveness in filling vacancies

But also think about the possible risks:

  • Incipient employee turnover
  • Long-term contracts (rental space, hardware and software)
  • Generation conflicts in working methods

The New Normal – Corporate Health Management

One’s own health is perceived more consciously as the greatest good. Companies that have already done something for the health of their employees in the past were also perceived as attractive employers. Younger generations will place even more value on healthy living and working.

Health at work

Health at work

Rate the following aspects to determine whether you are perceived as a strength or weakness in the company:

  • Implementation of the hygiene concepts
  • General health offers
  • Company vaccination option
  • Communication on hygiene
  • Compliance with hygiene regulations
  • Health care measures

Here, too, it is important to think about the opportunities that arise for your company:

  • attractiveness as an employer
  • reduce sick leave
  • Work-life balance support
  • Reorganize premises (rest room, health room, etc.)

On the other hand, there may also be specific risks:

  • Increasing legal requirements
  • health care costs

The New Normal – degree of digitization

Among the winners of the Corona restrictions were companies that have relied extensively on digitization. Online purchases and services were in high demand. This trend was not new, but it became more and more important to us. The entire value chain must be considered, from the automated purchase of goods to digital asset management and cashless payment systems.

What strengths and weaknesses does your company have in the area of digitization:

  • Degree of digitization in the value chain
  • Availability and access of data online
  • communication with customers
  • online sales
  • process automation
  • Use of artificial intelligence (AI)

Think about the opportunities that digitization opens up for your company:

  • New business model
  • Additional revenue streams / new products / new services
  • competitive advantages
  • Increased efficiency through automation
  • Individualization of the offers

Also assess the possible risks:

  • security risks
  • Dependencies on IT service providers or know-how carriers
  • Growing employee demands

The New Normal – Acting in global markets

With the global corona pandemic, there were also delivery bottlenecks or shortages of goods in some cases. There are many reasons for this, from the dependency of global manufacturers to extreme demand for individual raw materials and goods. This is based on the idea of a globally networked economy. The consequences of this became clear with Corona: a lack of medical products, restrictions in transit traffic, a lack of unskilled workers or rising prices for certain raw materials.

Consider the strengths and weaknesses that emerged against the background of globalization:

  • supplier management
  • vertical integration
  • Resources and Dependencies
  • product range
  • Adaptation of production / services
  • storage capacities
  • Flexibility in employee deployment
  • scalability of services

Also think of the opportunities that arise from the consequences of the global corona restrictions:

  • Insourcing of critical products and services
  • diversification
  • site selection
  • material development
  • regionality
  • sustainable production

What are the risks when looking back at behavior in the globalized markets:

  • isolation of states
  • regulations
  • monopolies

Conclusion

We have limited ourselves to four major changes that were observed during the lockdown times and that will also concern us in the future. With a simple methodology such as the SWOT analysis, a company can form its own picture and position itself strategically. It is crucial that you focus, like here on Corona and the effects on the economy. This works very simply with the help of a digital consulting platform such as ConWISE. All of the factors listed flow directly into the analysis and thus provide a picture of the new normality in your company. Use this uncomplicated New Normal analysis from ConWISE

The ConWISE team will be happy to show you exactly how this works during a non-binding appointment. Contact us!