The COVID-19 pandemic has brought unprecedented uncertainty to the global economy. As businesses are deep in 2021 strategic planning season, many are seeking to evaluate how their business needs to adapt to world that will emerge following the COVID-19 pandemic. We answered the five most common questions we hear from our clients so you can navigate the changing landscape and succeed in 2021.
1. When will my business recover?
This is the million-dollar question, and the answer is multi-faceted with many macro, industry, and company dynamics, plus lingering questions about the impact of potential second waves of COVID-19 in Q4 2020. While China is pulling ahead, markets from Brazil and Mexico to South Africa and India are struggling to both contain the epidemic and its economic consequences. Most companies are also engaging in scenario analysis to help them manage the uncertainty over the next 12-18 months. Here is our recent analysis for you to find specific information on the markets and industries that matter most to your business:
2. My business operates across countries and regions. How should I be thinking about my supply chain over the long term, both in light of COVID-19 and US-China tensions?
We conducted several global benchmarking surveys with our clients and uncovered 7 common global supply chain vulnerabilities surfaced by COVID-19. Revisit your overall strategy to increase your average margins, given potentially higher costs of goods sold and operating costs in your supply chain. For a deeper evaluation of the potential risks to your supply chain, watch our full webinar presentation, How COVID-19 Will Shape Global Supply Chains. For more detailed analysis on the outlook for US-China relations and their supply chain implications, watch our recent webinar here.
3. How can I prepare my business for the 2020 US presidential election?
A Biden presidency will bring changes to US foreign relations across all regions. Notably, the new administration will bring in a more multilateral approach, easing tensions with Europe, but continuing complex relationships with markets such as China, Russia, and Turkey, among others. You should conduct a scenario analysis to assess the impact of a new administration on your business and anticipate foreign policy changes, incorporating insights from across business units. You can access an executive summary of our US 2020 Electoral Outlook here.
4. I’ve heard a lot about e-commerce lately. How should I think about the role it should play in my emerging markets route-to-market going forward?
COVID-19 containment measures have undoubtedly driven a rapid acceleration in e-commerce adoption. To evaluate how e-commerce fits into your overall channel strategy across different markets, consider the following:
- Customer segmentation: Which customer segments do you want to target first and with what product, pricing, and service offerings?
- Long-term trends analysis: How are e-commerce channels and buyers likely to evolve, and what changes do you need to consider in your short-term decisions?
- Channel segmentation: Which channel provides you with the right balance between cost, speed, and control based on your priority segments and overall commercial objectives?
- Offline integration: How would e-commerce fit in with your existing offline relationships, and how should these evolve over the next 2-3 years post-COVID-19?
5. Where can I find the best resources for 2021 strategic planning?
FrontierView has everything from full research reports and webinar presentations to daily news commentary and analyst insights – all focused on 2021 strategic planning to power your critical business decisions. Contact us to receive complimentary access to FrontierView for your 2021 strategic planning season.
Strategic planning season is ramping up and you need information about your markets, industry, and company in real-time to power your business decisions. FrontierView offers a solution that puts the right information at the right time, at your fingertips. Contact us to receive complimentary access for 2021 strategic planning season.