Question

5- How do you envision the global business sectors in five years from now? Do you think there will be a
complete recovery from the current situation?

Answer 1

The current situation of covid pandemic in unprecedented impacting almost all business, industries and countries.Except for handful of business and industries relating pharma, digital, etc , the current situation has taken many business and industries 2-3 years behind. While the major corporations will be able to survive at during these times, it is the small and medium business which has impacted significantly. The biggest challenge of small and medium business now is only survival now.

The vaccine may be tested and developed anytime sooner and it may take a year or two for the widespread availability of a vaccine. Among other challenges, financing the business has become a major challenge. There has been cascading impact due to this which might take years for the business to come out. Five years is comparatively a long period and the global business sectors may have reached the pre-covid levels (that of 2019) and with some sectors outperfoming others and doing exceptionally well in five years. Some of the sectors not relating to digital world would have taken enormous beating making it impossible to come out of it.The current situation has altered the business ideologies of many companies and these impact is to be seen for a very long time.

Thus, broadly, the world and the business sectors would have completely come out of the current situation in 5 years. Only those business which adapt to the changing practices, ideologies (Digital being the mantra from now on!) will see the light in the coming years and traditional business sectors who are rigid to change may not survive beyond a year or two.