Show notes
Dr. Badri N. Gopalakrishnan, Co-Founder of Infisum, an Experienced Academic and Corporate Researcher, and currently affiliated with McKinsey and Company as a Consulting Economist participates in Risk Roundup to discuss “Business Implications of COVID-19 Pandemic”.
Risk Roundup Webcast: Business Implications of COVID-19 Pandemic
Business Implications of COVID-19 Pandemic
The SARS-CoV-2, identified as the causative agent of an
outbreak of viral pneumonia centered around Wuhan, Hubei, China, and now named
as a COVID-19, is a full-blown pandemic impacting most nations. While the
coronavirus outbreak is a terrible human tragedy at all levels, it is not just a
health crisis of immense proportion; it is also an economic crisis. It is shaking
up the global economy, and the impact is being felt by individuals and entities
across nations: its government, industries, organizations, and academia.
With the rapid spread of COVID-19, there is enormous
uncertainty for businesses at all levels. A million questions are racing
through decision-makers minds:
Will
factories be allowed to operate?What
will be the impact on businesses?Will
companies suffer and go bankrupt? Will
current business models survive?
These growing questions are adding stress to the already
challenging reality of businesses.
New Global Reality
In this unprecedented new global reality, there is going to
be a dramatic restructuring of the fundamentals of economic and social order in
which humans, business, and society have traditionally operated. How exactly
this pandemic crisis-driven restructuring unfolds remains to be seen. But, one
thing is sure, the restructuring of the global economic order is imminent—the redesign
of business models is coming.
As a result, there is a clear need to begin a discussion on:
How to
navigate to the next normal?How to
restructure the entire human ecosystem of cyberspace, aquaspace, geospace, and
space?
Restructuring of Business Models
The COVID-19 crisis has implications for systems at all
levels. The current business models and methods are not built to be resilient
to pandemics or even any other natural or human-made disasters.
COVID-19 has changed everything for businesses. There is no doubt that the shock to businesses and industries from the economic impact of the ongoing virus-suppression efforts could be the biggest in nearly a century. As a result, things generally taken for granted for businesses are no longer possible. As the pandemic continues to expand, it is crucial to understand and evaluate:
What
is the path to the next normal for businesses?What
will normal look like for businesses in the coming tomorrow?How
will business operations and models restructure?What
will happen if businesses stop operating for a long time? For how long can they
do that? How
deep an economic shock can businesses sustain without causing human suffering
that our societies are unable or unwilling to bear?How
are business leaders navigating this time of uncertainty? What changes will
likely emerge short term and long term?
For businesses, this is a war on every front. In the face
of these challenges, new ideas and imaginations are a vital necessity to come
up with new business models. While it is impossible to say how long the COVID-19
health crisis will last, for the businesses, a new normal will take years. How businesses
navigate the turbulent time will define and determine not only our coming
tomorrow but also the very future of humanity.
The time is now to
evaluate the Business Implications of COVID-19!
For more, please watch the Risk Roundup Webcast or hear the Risk Roundup Podcast
About the Guest
Dr. Badri N. Gopalakrishnan, Co-Founder of Infisum, an
Experienced Academic and Corporate Researcher, Applied Economist,
Policy/Business Consultant and, Interdisciplinary Scientist with extensive
experience publishing papers, producing and managing global economic datasets
and models widely used by academic/ policy/industry researchers and analysts
across the world.
He is currently affiliated with McKinsey and Company as a
consulting Economist and as Principal Investigator as well as a hands-on
contributor for grant-funded and consulting projects with top universities like
Purdue University, Harvard University and London School of Economics. Badri has
published several international publications in the areas of trade, energy,
environment, agriculture, labor, health, and manufacturing, cutting across
disciplines, with numerous citations in top journals like Nature and American
Economic Review, the peer reviewer and editorial board member for several
international journals.
About the Host of Risk Roundup
Jayshree Pandya (née Bhatt), Ph.D., is a leading expert at the
intersection of science, technology, and security and is the Founder and Chief
Executive Officer of Risk Group LLC. She has been involved in a wide range of
research, spanning security of and from science and technology domains. Her
work is currently focused on understanding how converging technologies and
their interconnectivity across cyberspace, aquaspace, geospace, and space
(CAGS), as well as individuals and entities across nations: their governments,
industries, organizations, and academia (NGIOA), create survival, security, and
sustainability risks. This research is pursued to provide strategic security
solutions for the future of humanity. From the National Science Foundation to
organizations from across the United States, Europe, and Asia, Dr. Pandya is an
invited speaker on emerging technologies, technology transformation, digital
disruption, and strategic security risks. Her work has contributed to more than
100 publications in the areas of science and commerce. She is the author of the
books, Geopolitics of
Cybersecurity and The Global Age. She writes about Artificial
Intelligence on Forbes.
About Risk Roundup
Risk Roundup, a global
initiative launched by Risk Group, is a security risk reporting for risks
emerging from existing and emerging technologies, technology convergence, and
transformation happening across cyberspace, aquaspace, geospace, and space.
Risk Roundup is released in both audio (Podcast) and video (Webcast) format. It
is available for subscription at (Risk Group Website, iTunes, Google Play, Stitcher
Radio, Android, and Risk Group Professional Social
Media).
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