COVID-19 cases have exceeded 380,000 and are increasing at a significant rate. To reduce the casualties. government has taken stricter actions on social distancing in many areas of the U.S, Europe, India, and other countries.
According to the report from McKinsey, the greatest share of COVID-19 cases comes from Europe.
According to the above chart, GDP will start stabilizing after 2021. Business leaders must focus on the depth of disruption, length of the disruption and the shape of recovery looking at the current scenarios.
All the sectors have been hit economically and have declined by a double-digit percentage.
Sectors that have been hardest hit, may not see restart until 20121.Sectors like aerospace/defense, Air/Travel, Insurance carriers, oil and gas, automotive, apparel/fashion/luxury have an average change in stock prices as -47%, -51%, -38%, -48% ,-35%,-36% respectively.
Leaders of these sectors need to think across 5 horizons;5R's:
1. Resolve: Address immediate challenges that COVID-19 represents to the workforce, customers and partners.
2. Resilience: Address near-term cash management challenges, and broader resiliency issues.
3. Return: Create a detailed plan to return the business back to scale quickly.
4. Reimagination: Re-imagine the "next normal"- what a discontinuous shift looks like, and implications for how the institution should reinvent
5. Reform: Be clear about the environment of your industry (regulations, role of government) that could evolve.
Supply chains have been disrupted around the world but the full impact has been felt yet. Many countries while still are encouraging social distancing, China have got 80% of its factories restarted, labor shortage is hurdle leading to further supply chain disruptions.
In China, Hubei remains deeply impacted. China has resumed public transport facilities. Whereas parts of Europe, America, the Middle East, and South Asia are under chaos, status being Warning level 3.
-Shreya Jain
According to the report from McKinsey, the greatest share of COVID-19 cases comes from Europe.
According to the above chart, GDP will start stabilizing after 2021. Business leaders must focus on the depth of disruption, length of the disruption and the shape of recovery looking at the current scenarios.
All the sectors have been hit economically and have declined by a double-digit percentage.
Sectors that have been hardest hit, may not see restart until 20121.Sectors like aerospace/defense, Air/Travel, Insurance carriers, oil and gas, automotive, apparel/fashion/luxury have an average change in stock prices as -47%, -51%, -38%, -48% ,-35%,-36% respectively.
Leaders of these sectors need to think across 5 horizons;5R's:
1. Resolve: Address immediate challenges that COVID-19 represents to the workforce, customers and partners.
2. Resilience: Address near-term cash management challenges, and broader resiliency issues.
3. Return: Create a detailed plan to return the business back to scale quickly.
4. Reimagination: Re-imagine the "next normal"- what a discontinuous shift looks like, and implications for how the institution should reinvent
5. Reform: Be clear about the environment of your industry (regulations, role of government) that could evolve.
Supply chains have been disrupted around the world but the full impact has been felt yet. Many countries while still are encouraging social distancing, China have got 80% of its factories restarted, labor shortage is hurdle leading to further supply chain disruptions.
In China, Hubei remains deeply impacted. China has resumed public transport facilities. Whereas parts of Europe, America, the Middle East, and South Asia are under chaos, status being Warning level 3.
-Shreya Jain
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