In-depth

Year in review: How have businesses fared in 2020?

We look at the shape of the business world as we part ways with this annus horribilis...

Business people in front of computers

Where do we even begin? The majority of 2020 has  COVID-19 pandemic, which impacted us individually as much as it did collectively: changing the ways we work, interact, and perform even the most basic tasks.

At this point in 2019, not many could have predicted that commuting from the bedroom to the dining table while wearing sweatpants would be the new normal in a matter of months.

We also endured the seemingly endless saga of Brexit negotiations, as well as the mass shift to the cloud and heightened cyber security risks.

So, as this whirlwind year comes to an end, we asked business leaders and analysts about what firms might have learned from the experience.

A new working model

No other global event in living memory managed to affect all industries as drastically as the COVID-19 pandemic, according to James Fisher, chief product officer at business intelligence company Qlik.

With offices shut due to lockdown restrictions, those who weren’t among the millions furloughed had to reinvent the way they perform their job from one day to the next. It was a change requiring copious amounts of patience and flexibility, as well as a pinch of innovation in setting up a home office.

“Success – and, indeed, survival – in this period has been characterised by agility: both of entire workforces overhauling working practices, as well as the creativity shown by companies as they react and adapt to the changing situation,” Fisher says.

Andrew Duncan, UK Partner and CEO at management consulting firm Infosys, says that one of the major challenges for business leaders brought on by 2020 was “building trust with employees whilst embracing more agile structures and virtual processes.”

To read the rest of this feature, which was originally published by sister title The Business Briefing, please download the original in its PDF form.  

And, to sign up to receive future issues of The Business Briefing (delivered to your inbox every Monday), please fill in the form below.

Featured Resources

Security analytics for your multi-cloud deployments

IBM Security QRadar SIEM solution brief

Download now

Five reasons to move to the cloud

Join the enterprises moving their workloads to the cloud

Download now

Architecting hybrid IT and edge for digital advantage

Why business leaders should consider a hybrid IT strategy

Download now

Six reasons to accelerate remote asset monitoring with AI

How to optimise resources, increase productivity, and grow profit margins with AI

Download now

Most Popular

Npower shuts down app after hackers steal user data
hacking

Npower shuts down app after hackers steal user data

25 Feb 2021
Hackers publish Bombardier data in wide-reaching FTA cyber attack
cyber attacks

Hackers publish Bombardier data in wide-reaching FTA cyber attack

24 Feb 2021
New monitors for an agile new normal
Sponsored

New monitors for an agile new normal

19 Feb 2021