The COVID-19 pandemic qualifies as one of the most impactful events the world has faced in the past century. The pandemic will shape the world in ways never imagined as the need to adapt to a new reality emerges. Businesses will have to fit into a new reality; the world will change through the emergence of social capitalism as the need for global coordination arises (Ten Emerging Trends, 2021). In addition, the pandemic will lead to an accelerated digital transformation. The COVID-19 pandemic will also likely lead to a change to an on-demand work model that is technology-dependent. One cannot ignore the impact on healthcare where there is a possibility of a new healthcare platform (Ten Emerging Trends, 2021). Remote work will lead to social isolation that will create mental health issues; the new healthcare configuration will need to address this.
The pandemic has already affected many business activities; the most affected is the supply chain that depended on a just-in-time model for a long time. A reconfiguration of the business supply chain is in the making as it becomes even more integrated with technology. The adoption of 5G technology will accelerate the digitization of many activities; as many people will be working remotely, the definition of the workplace will change. A transnational paradigm will be ushered geared to more interdependence and collective responsibility among nations. A major reset is happening as many businesses are forced to adopt new business models that will require upskilling and reskilling. As digitization occurs, the urban landscape will change as demand for real estate falls. Automatically, new challenges will force businesses to innovate as a matter of survival. In addition to structural changes, there will be a new era of philosophy as people’s mindsets change to fit the new world.