COVID-19 and the Bottom Line

Welcome to the Dove Direct Print and Marketing Blog. Today's post, "COVID-19 and the Bottom Line," takes a look at how COVID-19 is affecting businesses and various sectors, including the challenges the world is facing as it tries to bring COVID-19 under manageable control, from business revenue to healthcare treatments. No doubt, most folks are staying up-to-date with the various news and developments surrounding COVID-19. Multiple economists have alluded that COVID-19 will be around for some time, while, suggesting that there will be winners and losers as a result of this pandemic. However, as in any crisis, new opportunities arise out of the quest to quell adverse conditions that hamper normal health and economic activities, and helps to restore a degree of normality.

Our Quote of the Day:
"It is health that is real wealth and not pieces of gold and silver." - Mahatma Gandhi.

The ongoing debate as to the best way to restore the nation's economy and recover our health is hitting steep and unpredictable curves. Some US businesses are already preparing to re-open as early as this weekend. Although virologists, epidemiologists, and health experts who are on the front lines say, it is too soon. We see community leaders also sounding the alarm if we return to work too early. If we move too fast, it could prove to be a significant health setback, and if the alarmists are right, the economy will dive deeper into a hole that will take years to correct. Simultaneously, economic experts warn that the financial damage could be as adverse as the Great Depression if we don't re-open the economy. As a result, we understand why there is a debate. This pandemic is unprecedented.

Here's Where We Are

The coronavirus pandemic will change the way people do business around the world, and certainly, here in the United States. The days of water cooler talk, group lunches, and after-work cocktails may go away for good. In its place, home offices, Zoom conference calls, and delivered boxed meals. COVID-19 has bum-rushed American business into the starlight years of the twilight zone.

We may have to forgo face-to-face meetings and allow high-tech organizations to help us overcome any physical barriers we thought we had. Soon, if we haven't already, we will embrace Google, Amazon, Insta-cart, and the United States Post Office. These organizations have proven that they can give us what we want, as soon as we want it, within reason. Along with the nation's first responders, these companies have helped us to get through this pandemic so far. However, as we approach the national May 1 deadline for sheltering at home, we must ask ourselves what does this mean for the bottom line.

Before we can discuss a bottom line for organizations, we must look at the healthcare scenario. According to most health experts, a vaccine for the coronavirus could be as far away as 18 months, while some predict that it could be even longer, say 24 - 48 months. That means reviewing what-if scenarios for potential losses and gains to determine the best return-to-market strategy. That said, without a vaccine, there are some winners and losers of the coronavirus.

Who Loses

The obvious losers are the high-contact enterprises such as fast food, deli's, hair salons, barbershops, and athletic facilities. They may need to recreate their business-model if they want to go back to work within the next two weeks.

Anders Aslund, an opinion contributor of The Hill, states, "The dominant means of containment has become social distancing; in effect, much of the service sector — tourism, hotels, theaters, sports, movies, restaurants, bars and most transportation of people — has been closed down, while cargo transportation and most manufacturing continue. Presumably, 30 percent of value-added activities are being stopped. If we assume that these stoppages may last for three months, 7.5 percent of GDP will disappear this year." This pandemic will also have far-reaching implications for frontline workers in service industries across the twin towers of healthcare and the economy.

Who Wins

In all of this, there are clear winners. The winners include medical suppliers, labs, testing facilities, technology organizations, and Internet companies that create situational communication relief. COVID-19 is already bringing new variables to the stages of western economies and societies. For starters, borders will become more stringent for travelers, not to mention, due to the challenges that countries are having, including being unable to receive timely medical supplies, which will lead to more localized medical infrastructures.

The current failures of healthcare systems are already under scrutiny with the public at large, clamoring for more efficient and timely healthcare access. In addition, with the unemployment numbers skyrocketing, and some alluding to this year eclipsing that of the 1930s debacle, social safety nets will have to be revisited, including increasing unemployment payouts and providing better healthcare insurance to all, especially the poor. The time may have come where the US looks to achieve universal healthcare, as the pandemic exposes national security risks for the entire country, most notably from those who are unable to visit a medical facility due to invasive costs.

The Net-Net

The bottom line is that there will be winners and losers due to COVID-19. The big winners undoubtedly will be the iconic high-tech organizations that can assist people in overcoming the majority of their physical, communication, and productivity challenges.

Businesses like Google and numerous online news destinations will keep us up-to-date on events taking place around the globe. Apple, Microsoft, Cisco, and others will provide most of the communication software, and hardware once relied on for the office but now require at home.

The speed and cost-efficiency put forth by Amazon, Insta-cart, and grocery delivery operations will make up some of the brick and mortar retail slack.

Unlike the windfall that did not materialize when heading into 2000, COVID19 will be different. It will drive in both directions, winners, and losers.

Regardless of where your organization may be during this pandemic, the bottom line is that there will be change. How we respond to that change will determine how we fare in the long run. We hope you enjoyed this article and thanks for reading "COVID-19 and the Bottom Line!"  Cover Image by Rottonara from Pixabay

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