Question

How do recent changes impact business, especially service businesses? How do these changes affect you as customers?

Answer 1

The COVID-19 crisis ushered in years of change in businesses of all sizes and industries. In three to four years, businesses have advanced the digitalization of their customer and supply chain contacts, as well as their internal processes. And their portfolios' proportion of digital or digitally enabled goods has increased by a startling seven years. With the coronavirus humanitarian catastrophe developing on a daily basis, companies worldwide are struggling with how to continue servicing their customers and communities (Abdin, 2020). The job is particularly difficult for businesses that depend significantly on face-to-face contact, which encompasses a broad range of sectors from banking and insurance to hotels, telecommunications, and industrial services. Physical separation, elimination of non-essential activities, and restricted interaction are critical for human health protection—but they pose fundamental difficulties for these companies' ability to continue reaching out to consumers and meeting their expectations.

Organizations are swift in their response. Several near-term activities are critical to safeguarding lives, promoting work-from-home (WFH) policies, and managing customer and partner service expectations. These practical measures are critical for immediate efficacy and distribution reduction during operations. Simultaneously, in the face of uncertainty, service organizations will need adaptability throughout the length of current public-health measures and the ultimate economic recovery. Businesses must plan for success in a world where today's crisis becomes a new way of doing business.  Due to the changes in the light of the pandemic, consumers' preferences for internet channels have changed significantly, and businesses and sectors have reacted (Abigail & Zheng, 2021). There has been a rapid shift toward consumer interaction through digital media. Recent changes in response to the pandemic affect some dimensions of consumer behavior; for example, since physical mobility is limited, consumers are migrating at an unprecedented pace into virtual worlds and being exposed to new influences. This may force us to think outside the box in terms of imitating their conduct.

References

Abdin, M. (2020). Doing Businesses During COVID-19 Crisis and Afterwards. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3577715

Abigail, N., & Zheng, J. (2021). Consumers' Reaction and Response to Covid-19. Oalib, 08(05), 1-13. https://doi.org/10.4236/oalib.1106960

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Covid 19 pandemic came with drastic challenges which affected the performance and operation of the business in the whole world, ranging from manufacturing to distribution of goods and services to the end users.