Why Put the Coronavirus into Context?

Only by considering the many facets and consequences of the coronavirus outbreak can we fully grasp its many implications on global society, businesses and individual lives.

Understanding the facts and the context of the crisis will allow us to make the best possible decisions on how to adjust to the new reality. The ability to put the crisis into perspective also shields us from going into panic mode.  

In today’s business context, what’s the impact of the coronavirus?

That’s too early to tell and will depend on the duration of the crisis. Yet we can already see the tremendous impact it is having on supply chains and demand. Contemporary society and the global economy are so hyperconnected that we will probably need to find new ways to conduct business and organize society.  

Do you think there is a silver lining behind the current crisis?  

I think it would be wrong to describe the coronavirus crisis as an opportunity in disguise. People are dying, and many more are and will be suffering from the impact of the crisis. There is nothing good about that. But that’s why it’s so important to learn and to adapt. Governments must improve international collaboration; businesses must future-proof their supply chains; and leaders must base their decisions and actions on knowledge rather than impulse.

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