The socio-economic changes inherited from the Corona disease (Covid-19).

The socio-economic changes inherited from the Corona disease (Covid-19).

Every problem that occurs can be learned from a lesson or a technique to manage socio-economics and politics.

In this article I am talking about the socio-economic or business changes inherited from the Corona virus (Covid-19).

1. A move from global to local supply chain

During the Corona period, there was a stoppage in the flow of business and people for almost a year, as a result of which the goods brought from abroad could not be exported or imported.

Therefore, after the Crown, companies or governments began to focus on making or buying the goods and services they want in the country or in a nearby country.

Unfortunately, Somalia's economy is still very dependent on imported goods, which means that Somalis have not learned anything from the Corona virus.

2. Accelerated digitization

Before Corona, companies saw technology as just a nice thing that beautifies the company's day-to-day operations. However, the ban caused by Corona has taught the companies that technology is necessary and must be strengthened and developed.

3. Business agility and resilience

Before the Corona, companies focused on increasing annual profits. However, during the Corona era, profitable companies or businesses were destroyed while unprofitable companies survived.

The surviving companies are those who interacted with and adapted to the changes brought about by Corona (Agile businesses) and those who resisted the effects of Corona (Resilient businesses).

4. Remote working

It has been learned from Corona that employees can work from a place outside the company's premises such as their homes or in another country.

5. Changes in consumer behavior

The crown has changed the behavior of consumers or buyers. Before the Corona, people liked to buy goods imported from abroad and to visit the company's premises to buy the goods or services they wanted.

After corona, people mostly prefer goods or services located in the country. However, apparently the Somalis still want what is imported, which means that they are not prepared for an event similar to Corona.

Also, Corona taught people to buy things from the Internet market (Online market). Fortunately, Somalia has adapted to this change and there has been an increase in the number of online shopping malls in the country.

What did you learn about Corona?

Thank you.