The ‘New Normal” seemed to have happened overnight with the advent of the coronavirus. Whilst there were signs and warnings that major disruption was around the corner before the COVID-19 virus hit us; these were doomsday scenarios of the future, rather than one that required immediate crisis management today.
Climate change was the biggest of the pre-COVID-19 doomsday scenarios. Another worry was a potential Nuclear War starting in the Middle-East, The Economists and Bankers worried about the alternative world of cryptocurrencies such as Bitcoin, that could use Blockchain technologies to by-pass the traditional banking systems.
COVID-19 was the Big Bang of the New Normal. Since then significant shades of ‘new normal’ that were directly related to reducing COVID-19 infections were added to our regular lexicon, such as: Flattening the Curve; Social Distancing; Home Schooling; Travel Restrictions; Self-Quarantine; Lockdowns; Facial Masks; Hot Spots; Contact Tracing; ICU; Ventilators, Vaccines and Working from Home (WFH).
This seminar, the first of a series of three, covers 35 of the shades of ‘New Normal’ that are impacting our alternate reality, and how company strategies must radically change if we are to embrace this new normal lifestyle.
Professor Janek Ratnatunga is CEO of the Institute of Certified Management Accountants. He has held appointments at the University of Melbourne, Monash University and the Australian National University in Australia; and the Universities of Washington, Richmond and Rhode Island in the USA. Prior to his academic career he worked with KPMG.