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More specifically, what is the post-COVID New World Order of Doing Business and How do we Prepare for it! 

Simply put, the world has changed! It’s a new world economy and how we do business has changed!

• COVID brought about changed conditions, unforeseen factors and influences that affected what is and how we do Business. Stalled supplies, isolation and restrictions, production, labour shortages, the Ukraine conflict, and inflationary pressures were some of the compounding setbacks.  
• Adaptability, flexibility and creativity kept many small Businesses alive! Some enjoyed increased demand with the opportunity to explore new ways of doing things, discovering new products and thinking differently. Looking outside the box!
• Post COVID, in Australia how we live and conduct our Business has changed bringing with it the emergence of entrepreneurship opportunities, optimism and resilience not seen in the past 50 years!   

With the rapidness of change trends are emerging; technological, cultural and societal. Smart Businesses are preparing by accepting change is inevitable! They see change as opening doors and view challenges as opportunities. 

• Areas of change include: Technology, Workplace & Work practices and ECommerce. 
• Key Challenges: identifying growth Industries, making new trading alliances and securing safe Supply chains.

Technology: is redefining the way we do Business.  Digital transformation incorporates computerised technologies into their business processes, products, structures and systems thus providing more streamlined operations and ensuring Business continuity.  Businesses that undertake digital transformation are better equipped to engage and respond to their customers and workforce needs and further increase their market competitiveness. 

The Workplace: the definition of workplace has, will change as we see different working patterns and habits adopted, including around remote working practices. As new norms are established the workplace will no longer be an office, a place of daily attendance. Workplaces, whatever their description will be a collaboration, concerned with achieving common objectives.

Remote Working practices: Employees doing their jobs from home or locations away from the traditional central office place.  Offering ‘remote’ flexible arrangements is the new norm for attracting employee engagement and retention. Conducting business this way requires implementing virtual team collaboration and setting up remote business operations to suit all parties. 

OnDemand Workforce: rethinking staffing strategies includes integrating an on-demand workforce model. An on-demand employee is engaged to work for a Company only when needed. Arrangements include, free-lance, temp or day labour, depending on the business. This model is growing in popularity for both Businesses and workers wanting a flexible schedule.

Upskilling & Reskilling: With the disruption to labour markets and supply due to COVID it has magnified and intensified the need for reskilling and upskilling of the workforce. Training and education systems will require virtual solutions to provide quicker results.

ECommerce operations: The method of buying and selling goods and services Online is now a growth Industry with sales statistics to prove it. With this trend comes the need for Online store shopping strategies, marketing tactics and customer shopping experience optimization. 

Leveraging Marketing: Leverage the power of social media networks. Actively engage with social media platforms to advertise, showcase and communicate with your customers and potential customers. Be part of the online conversation, share your story, the messenger and ambassador of your Business. Businesses must get on board or be left behind.      

Takeaway messages:   

New mindsets will drive change!   Business Leaders, to stay relevant and drive business growth need to be innovative and think creatively!  

Technology: Smart Businesses accept they must be continually prepared to embrace change or get left behind. 

Be adaptable! It’s not business as usual!