Historically, technological development has not always been a smooth or elegant process: companies have had to try to install or adapt new technologies under strong pressure. As a result, some systems have remained clumsy. The short-term challenge, then, is to move from a crisis response to building and institutionalising what has been done well so far.
For the consumer industry, especially retail, this could mean improving digital and multi-channel business models. In healthcare, it is about setting virtual possibilities as the norm. Insurance is about personalising the customer experience, etc. The COVID-19 crisis has created a need for companies to reconfigure their operations and an opportunity to transform them. If they do so, they can become more productive.
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Article source McKinsey & Company - global management consulting firm