Charles R Swindoll famously wrote “Life is 10% what happens to you and 90% how you react to it.”
While the primary focus of our global response to the pandemic has rightly been people’s health, the lockdown and “economic pause” means we have a changed economic and business landscape. Leaders are now beholden to rise to the challenges presented, not only to address immediate problems but also to seek out new opportunities and prepare for a more secure future.
We are seeing remarkable progress in the life sciences and medtech sectors, from the large pharmaceutical companies to highly innovative start-ups. The University of Minnesota (UMN) has demonstrated its research strength by successfully creating both virus and antibody testing for the COVID-19 crisis. They have also created a low-cost ventilator known as the “Coventor” which has received FDA approval. Through the methods of innovative researchers and engineers, UMN was able to create these tests and medical equipment with resources that are more widely available and do not suffer from supply chain issues. Necessity is the mother of invention, and when materials are in short supply, unique solutions emerge.
It’s fascinating to watch manufacturers pivot to produce new lines – alcohol producers are using their materials to create hand sanitizers and auto manufacturers are developing ventilators and personal protective equipment (PPE). Other traditional brick-n-mortar companies have also had to adapt – retailers are offering curb-side pickup and restaurants have turned into drive-up only outlets. These latter examples would not be possible without an already established online presence and digital strategy, and certainly it’s the digitally enabled companies with digital business models that are best placed to capitalize on new opportunities. We see this in a myriad of examples, from the stratospheric rise of Zoom to the inception of “Pub in a Box” where the founders note, “We appreciate you might not be able to head to the pub right now, so we thought we’d bring the pub to you.”
Another example of a brick-n-mortar company swiftly adapting to change is Industrious, a New York based co-working company. In response to the Coronavirus outbreak, they’re identifying ways to support productivity of their members despite the inability to work from their offices. Industrious has strived to preserve and strengthen the fabric of their community, with efforts ranging from delivering office furniture and equipment to their members’ homes to rolling out resources, tools, and virtual events which allow their communities, and the businesses within to remain connected.
Whether it’s working on solutions spawned by the virus, pivoting to repurpose production or accelerating strategies to be more digitally transformed, through necessity the world is adapting very quickly to a “new normal.” We’ve quickly learned that many work activities can be carried out remotely and online, allowing millions of employees to be productive and contribute to their businesses and the economy; even on occasion, driving new areas of growth and innovation. Being able to communicate, collaborate and transact online is more important now more than ever, but while technology is the enabler we know it is not enough. It depends on people and how they respond, cope and innovate; resilience and adaptability are key to driving successful outcomes – “life is 10% what happens to you and 90% how you react to it!”
At Trissential, much of our success is built on having both a mindset and capacity for rapid change. We have built a highly agile business, underpinned by great technology, people and processes. Our organization is based on a hearts, hands and minds philosophy and a mission to “have a positive impact on the life of anyone who interacts with us.” We too are pivoting and adapting to the “new normal” as we strive to proactively support our staff and client base without missing a step, both onshore and offshore, while continuing on our path of learning and innovation. We look forward to sharing more insights during this transition to a new normal, including how our services and offerings around Enterprise Agility can increase the flow of value and pace of change, Solution Delivery can enable a culture of change while ensuring consistent execution, and Continuous Quality allows digital solutions to be operationalized at pace, with quality outcomes. We’ll also share the major themes from our people-management strategy as we navigate to the “new normal.”