The world economic lockdown has caught of all of us unprepared for the new changes and transition of the situation. Because of this, many companies has been divided into more categories related to opportunity/crisis they face or the market has been lost. Below you can find the distribution by the type of business had they are place regarding the parameters mentioned above.
Figure 1. Types of business in the time of lockdown
The distribution of the companies is made based on more world statistics on the lockdown impact from March-April 2020 for business[1]. Also, this distribution reflects very well the Pareto principle 80/20.
Knowing the situation correctly we can find the right strategy both for using this opportunity as well as how to overcome the crisis we face. From this point of view we can find 4 general strategies for using the opportunity and 4 general crisis strategies.
Figure 2. Business strategies in the time of lockdown (I)
In the first two cases (Figure 2) it shows that these companies have a big possibility for the opportunity development, but they need also to have a contingency plan or how strategically to overcome this crisis in case it impact one of these companies.
Figure 3. Business strategies in the time of lockdown (II)
The companies that are in the position of the matrix of Figure 3, they also have an opportunity, but they are really threatened by the crisis. The companies that already face the “accident” they really need to think a complete new business strategy or event totally to restructure it. For example many restaurants that are surviving in the time of lockdown are turning a big part of their sales into specialty shops at their entrance as well as invest in food home delivery. The same are doing many hotels, they are providing catering or other new services based on their existing assets, such as home delivering transportation services.
[1] PwC Survey Reveals Expected Business, Economic Impact Of COVID-19 [online 2020]. Quoted: 21.04.2020: https://facilityexecutive.com/2020/03/pwc-survey-reveals-expected-business-economic-impact-of-covid-19/; Sondaj MiniCRM – http://www.minicrm.ro, martie 2020, p. 4; Youth Co: Lab survey reveals how COVID-19 is affecting youth-led businesses in Asia-Pacific. In: UNDP [online, 2020]. Quoted: 21.04.2020:
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