The outbreak of the pandemic has been challenging for the industry. The subsequent pandemic has changed the dynamics of various industries. The way businesses had to adjust to ensure their existence not only changed the trajectory of what 2021 looked like but also gave everyone a clean slate to start afresh. 2021 will be marked as the year of redemption.
2020 has taught businesses to become agile, be prepared to face any kind of contingency situation. It made leaders stop in their track, reflect on their strategy, and evaluate if their business model can sustain such risks in the future. Technology has played a major role in helping businesses stay afloat, stay connected and stay relevant in the minds of consumers. It has been a wake-up call for businesses who have shied away from incorporating technology tools in the day-to-day operations. In 2021, organizations will find new and improved innovative technology tools, which will give an impetus to their recovery, growth, and profitability.
Organizations have also become very conscious about how their business is impacting the overall ecosystem. Leaders will focus on sustainability initiatives that have a greater social purpose and wider social impact. Only responsible organizations will be able to display resilience and continuity in these unprecedented times.
In 2021, organizations are going to better prepared to overcome, learn, adapt, evolve, and innovate in the face of any crisis. If nothing else, 2020 has made the corporate world a lot more humble, wiser, determined, and most important – agile.