Thoughts on the shape of the next normal

The future is not what it used to be…

The coronavirus crisis is a world-changing event. Here are seven elements for business leaders to consider as they plan for the next normal.

1. Distance is back

2. Resilience AND efficiency

3. The rise of the contact-free economy

4. More government intervention in the economy

5. More scrutiny for business

6. Changing industry structures, consumer behavior, market positions, and sector attractiveness

7. Finding the silver linings

One possible “next normal” is that decisions made during and after the crisis lead to less prosperity, slower growth, widening inequality, bloated government bureaucracies, and rigid borders. Or it could be that the decisions made during this crisis lead to a burst of innovation and productivity, more resilient industries, smarter government at all levels, and the emergence of a reconnected world. Neither is inevitable; indeed, the outcome is probably more likely to be a mix. The point is that where the world lands is a matter of choice—of countless decisions to be made by individuals, companies, governments, and institutions.

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