Impact of Covid-19 on US and Canadian businesses

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Impact of Covid-19 on US Canadian Businesses
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Impact of Covid-19 on US and Canadian businesses
A mutation of sorts was expected when the initial
phases of the Covid-19 impact on businesses
unfolded. The consumer behaviour shift reflects
the uncertainty of the times we are going
through.

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Impact of Covid-19 on US and Canadian businesses
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While the businesses struggle to revive,
re-establish and adapt, here are a few business
insights ot help you gain the momentum in these
times.

• Economic situation-
• Consumers will make sure it is safe to return to
  markets, both financially and medically before
  making a return to the traditional shopping
  experience. This calls for an exceptionally well
  handled social media and online presence followed
  by a smooth and uninterrupted online shopping
  platform.
• Unless the financial benefits outweigh the
  medical risks, it is expected the consumer
  behaviour will be predominantly on the virtual
  side.
• Restructuring the supply chain-

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While the businesses struggle to revive,
re-establish and adapt, here are a few business
insights ot help you gain the momentum in these
times.

• The recovery period is uncertain at best and
  requires the de-structuring and restructuring of
  the existing supply chain patterns. Focusing on
  maintaining a central orchestration within the
  organisation- looking for easing into the market
  with future plans rather than disruption. A sharp
  recovery period could follow the current economic
  slump, the recovery plans should be orchestrated
  keeping all current and future prospects in mind.
• Keeping up with agility-

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While the businesses struggle to revive,
re-establish and adapt, here are a few business
insights ot help you gain the momentum in these
times.

• Moving from crisis mode to recovery needs to have
  a calculated and time sensitive strategical
  approach. Again, easing into the market should be
  key. Following the organisation strategies with
  agile responses will definitely be the key for
  moving forward.
• Workforce and motivation-
• Making a move into workspaces will take time and
  motivation. Driving the workforce to perform well
  will need collaborative and productive
  environment.

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