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Quora - VP and McKinsey alum and Medium column on "After it all"

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Quora - VP and  McKinsey alum and Medium column on "After it all" Empty Quora - VP and McKinsey alum and Medium column on "After it all"

Post by solajijic on Wed Apr 15, 2020 7:26 pm

I enjoy the reading opinion sites Quora and the relatively new Medium.  There is gold reasoning and interesting thinking therein.  

This is from:
Kelly Battles - former CFO at Quora 2016-2020

(There are graphics with McKinsey bullet points in the original post however they don't transfer with a copy function.  The other answers are just as interesting but this one is primo given the source. https://www.quora.com/What-should-I-expect-after-the-pandemic-COVID-19-is-over)

I just attended a McKinsey alumni video conference call today about the firm’s thought on post Covid-19 “new normal”. It was very interesting. The speakers, who were all McKinsey partners working with clients to understand what is happening in the business and medical worlds right now, focused on two main slides.

First, they talked us through the five steps or stages that companies will go through as we get through this crisis.

Resolve, Resilience, Return, Re-imagination and Reform.

You can read the details below but while we were on the call, they polled the roughly 800 participants and the large majority were at companies in the resilience stage. They noted that the stage currently will depend a lot on your location around the world (e.g., U.S. companies are probably in a different stage on average when compared to Chinese or South Korean companies, as well as companies in the Bay Area are probably in different stages that those in NYC).


Second, and I thought more interestingly, the speakers focused on the future’s potential “new normal” and what may change. Here are the seven trends that they focused on, noting in several cases that Covid-19 is simply accelerating trends that were already out there.


A few other interesting things to note from the call:

They referred to Amazon as potentially “the new Red Cross!”
They said that excessive on-shoring could cause instability in developing countries as their economies shrink as a result, and that this is something we need to be vary careful about.
As we return to work and “normalcy”, it may feel like it did as people first returned from industrial tragedies like warehouse fires in the time of the industrial revolution in that we will probably see an increase in safety regulations that try to prevent future similar situations from occurring.
It is very likely we will see the healthcare industry reimagine how to handle and build for efficient surge or flex capacity (e.g. telemedicine could be key).
If you want more details, here is a link to a related McKinsey article that was just recently published.

Beyond coronavirus: The path to the next normal

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Post by caligirl108 on Thu Apr 16, 2020 12:13 am

yes, I am enjoying Medium - fresh untethered writings, opinions.

As far as our healthcare system reimagining itself, forget that. The insurance industry w managed care has brought hospitals, physicians, suppliers to their knees (Big Pharma excluded, of course).  Medicare paperwork is nuts, driving many good doctors to give up practicing.  Nursing as a career isn't looking so good now, is it? And Medicare-for-all goes away w Bernie.

The cost of doing business multi-nationally has been revealed.  Business travel will likely contract for a couple years, because of our worldwide enhanced virus pool.  Hey ~ remember winter?  cooped up in the cubicle or on a plane rebreathing everybody's air? Herd immunity, really? With a rapidly mutating RNA virus, with so many other RNA varieties in the pool?  The fear of sickness with NO health insurance or a health plan costing more than your mortgage, plus co-pays & medicines twice what they are here in Mexico. And what's it like conducting business with everyone wearing masks? weird, I think.

I doubt the McKinsey partners spent much time talking about martial law, how everybody did, esp policing each other, righteous & fanatical in our brave new world. Evident over @ Covid FB thread, it is just amazing how quickly people devolve. But, McKinsey is a business consulting firm, trying to reboot, keep partner equity up & re-do the boilerplate..  Cynical I guess

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Post by Trailrunner on Thu Apr 16, 2020 8:16 am

Spot on, CaliGirl.
Not cynical, realistic.

So, how the world emerges from this, if it does, how will it be shaped? By the people? By the politicians? What do y'all think?

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Post by Gamina on Thu Apr 16, 2020 8:53 am

Shaped by Big Business through the politicians.
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Post by Trailrunner on Thu Apr 16, 2020 9:11 am

Duplicate


Last edited by Trailrunner on Thu Apr 16, 2020 9:14 am; edited 10 times in total
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Post by Trailrunner on Thu Apr 16, 2020 9:11 am

It was a dumb question that I asked. There is no way of knowing how we will emerge from this. It depends on how many and who survive and what our economies look like. Many politicians may be dead and many businesses, even big corporations may no longer exist.

Our economies may consist of nothing more than bartering among our surviving neighbors!

Think I'll replant my roof-top produce garden.
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Post by gringal on Thu Apr 16, 2020 9:45 am

I think Gamina has it right.

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