THE NEW STRATEGIC REALITY AS A CONSEQUENCE OF THE COVID-19 PANDEMIC
The new reality of COVID-19 has been with us since the end of the first quarter of 2020. This has led to dramatic changes in several ways: • For national economies. Growth has suffered and is now negative (as of the end of 2020) for most economies, with the exception of China. • For corporations. A reduction in demand (and revenue) for most firms, perhaps with the exception of the larger ones in the high-tech virtual sector. • For the family firm. A need to adapt quickly to the new virtual realities, and thus to abandon many of its traditional businesses (manufacturing, distribution, restaurants, hotels, etc.). • For the consumer. A move towards virtual reality (working from home, shopping from home, no concerts/theatre/movies/sports events, etc.). New consumer propensities are emerging! Perhaps the most surprising effect…