Business Beyond COVID-19 – The Global Podcast Series
Welcome to Business Beyond COVID-19, HSBC’s podcast series about embracing business unusual through the global pandemic and beyond. We talk to industry leaders and experts to understand how they are adapting, reshaping and innovating through these extraordinary times.
Listening time 12min
Key takeaways from business leaders in order for organisations in the UAE to successfully navigate the future beyond COVID-19:
- Pandemic has led to new opportunities
- Consumer expectations and behaviours have shifted
- Remote working, distance learning, online media content, etc.
- Secure national and regional resilience for supply of critical goods
- Consider on-shoring, re-shoring or near-shoring
- Keep low to ride wave of late payments
- Think high capital retention with low dividends
- Engage key customers and employees to increase confidence
- Reassure about company’s long term position
- Be ready to scale up and support future growth
UAE economy’s agility is key to navigate through COVID-19
HSBC hosted a virtual roundtable in June to hear from experts and industry leaders in the UAE who discussed their thinking and insights on how to best manage risk, reorient operating models, adapt to changing customer needs and how to future proof strategies. While the impact of COVID-19 has been felt by all businesses across the world, the UAE has been navigating uncertainty and embedding resilience.
Our peers who might be extremely leveraged or operationally efficient, we see them shrinking the market share. And we’re using this time to launch new products and even perhaps look at some acquisitions in our field.
There is a good foundation for the new normal in the UAE. Supply chains are being reinvented, the Government are digitally enabled and wellbeing has been a focus for years.
We immediately faced into reality, and we realised that instead of avoiding any problems, because they would not disappear, we’d better face it head on.