We seem to be getting towards the end of most restrictions related to social interaction imposed to control the coronavirus pandemic. We have invariably used the term ‘lockdown’ to describe these restrictions as international travel was severely restricted if not abolished.

Restaurants and certain types of shops remained closed for a number of weeks. The same rule was applied to faith events. Moreover, a not insignificant percentage of the population worked from home and schools were closed for a period of time. This explains the generic term ‘lockdown’.

So the question I am posing is whether there are lessons to be learnt from this lockdown period. I have long contended that things have changed in such a way that we now have a new normal. We will not be going back to the pre-coronavirus period, but we will be evolving into a new environment.

One aspect that did surprise me is that a number of organisations did not appear to be prepared for the impact of the coronavirus or took very long to adjust to the restrictions imposed after the first wave in March 2020. This was not too much different from what happened in other countries. However, my hope is that we have all learnt the lesson from that first wave.

Business organisations need to remain nimble, agile and adaptable

We may not get further waves of the coronavirus (fingers crossed), but we should have learnt the lesson business organisations need to remain nimble, agile and adaptable. If it is not the coronavirus, we can expect other disruptive events in the future. Previously these disruptive events may have been limited to certain segments of the economy; or we may have had ample opportunity to recover from them and keep going.

We need to go back decades to remember events that had such a disruptive effect at a global level, and there will be more of them in future. This is why we need to retain a structure that does not weigh us down but allows us to react effectively within a short period of time to such disruptive events.

I wrote that we shall be evolving into a new normal. This will, by definition, entail a transition period, until the new habits, attitudes and perceptions settle in. In the meantime, we need to keep in mind other changes that were going to occur anyway irrespective of the coronavirus.  This is likely to add to the volatility around us and, therefore, the need to be agile, nimble and adaptable.

This does not mean that we should not think long term. What it does mean is that businesses need to build flexibility into their long-term strategy, to adapt to this short-term volatility but keep long-term strategic objectives in mind. Promoters of the agile concept in businesses tell you to set aspirational goals and also to set more realistic goals on a year-to-year basis.

The challenge for governments in such a business scenario is how to respond to the recession caused by the pandemic, how to taper off any assistance that was provided to business to safeguard jobs and ensure their survival, and how to pay back the money borrowed to finance the fiscal deficits incurred.

Governments cannot add to the volatility and need to ensure a smooth transition. Previous experience shows that this was not the approach that was always adopted.

Maybe even here there is a lesson to be learnt – how governments should respond to a recession. The dogmatic approaches of the past do not seem to be acceptable anymore.

As such there are lessons to be learnt from lockdown, both for businesses and for governments.

The ability to learn these lessons will determine how we will emerge from the coronavirus pandemic a few months from now.