With the COVID-19 pandemic, today's greatest challenge is to protect the lives of thousands of people and the livelihoods of billions. In 2008, the great financial crisis also caused a great deal of effort around the world, but society found palliative solutions and failed to observe the structural flaws of globalization. Therefore, in the midst of another, even more challenging struggle, some reflections are worth reflecting on identifying opportunities in adversity, to help create a more sustainable, resilient, healthy and egalitarian society.
At this time of crisis, companies can join reconstruction efforts so that they perpetuate and leave a lasting legacy to the world. Corporate behavior is a microcosm of the economic system. The corporate world has accumulated great stories of integrity, energy, and ingenuity, which helped in many fights. The companies that will thrive in the next decade tend to be those that adopt purposeful management transformed into reality. Those that think about their clients and employees and above all, are useful and relevant to society in everything they do.
Social and environmental responsibilities go hand in hand, but most citizens have not yet diverted their attention to the climate crisis, for example. It is important to reflect how, in a matter of weeks, some responses to COVID-19 were able to mobilize so many aspects of modern life.
In the midst of the pandemic, many researches and articles are being published, not only related to the disease, but to social risks. And many more records will be produced around the world during the pandemic. In other words, organizations can use these analyses to prepare future plans to respond to other possible crises, without disconnecting the strategically assessed risk and emergency response plans. Both need to be interconnected, especially with regard to the problem of hunger, already faced in various parts of the globe.
The current crisis is the time to continue taking advantage of the opportunities brought by the fourth industrial revolution, whose changes were already taking place in the last decade, which brought a multitude of innovative digital platforms now used at this time of social and professional isolation. The trend is for more innovations to appear in the market from now on, since the COVID-19 crisis has proven that the market can make things happen quickly. Bringing together a social, political and corporate vision for the community in the fourth industrial revolution is the best way to create a better future. It is time to reflect on whether Industry 4.0 will be owned by a few, continuing an unequal system, or will be developed to all citizens, regardless of social level.
COVID-19 is also showing that a society actually exists and that no one thrives alone. Global collaboration is essential and constructive, and in recent years, companies have demonstrated a greater understanding that, collectively, they depend on a more prosperous society and planet, accepting the need for partnerships to create a new economic model, in which individual companies win at the same time that society and the planet prosper. This will work when companies prioritize partnerships not only for specific issues, but also for systemic changes.
All the trends mentioned were already noticed before COVID-19, in emerging companies that offered products and services prioritizing the customer, but also society and the planet in the same measure. Although a difficult time is beginning for startups, which will require a lot of energy for business continuity after the pandemic, many of them are an inspiration and an indication that a major business revolution is coming.
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