Four Industries with Changing Business Models in a Post-COVID World

Posted: 18th June 2020 09:30

One could argue that there has not been an event that has impacted the industry so much since 9/11. The landscape of business after the coronavirus pandemic has altered--in some cases, severely altered--and it is uncertain how long conditions will stay changed. Here are a few examples.
Janitorial Industry
The janitorial industry has taken on a whole new level of thoroughness. Gone are the days of simply mopping, vacuuming, and buffing floors, emptying trash cans, cleaning windows, and dusting fixtures. While all of those activities are still an important part of the job description, the focus has shifted to sanitization. Think of the objects you touch when you enter a business: Doors, handles, knobs, phones, computers, desks, chairs. The purpose of this exercise is not to make you freak out at your exposure to germs; instead, this is a shortlist of the paraphernalia that needs to be sanitized on a frequent basis. At this early stage, the question remains as to whether or not the janitorial industry will absorb this responsibility or if a new, separate industry will arise in tandem.
Legal Industry

The changes to the legal industry are indicative of many similar industries, such as accounting. Although much of the country has been brought to its knees, the wheels of justice must still turn. How have law offices adapted? One of the keys is to minimize physical contact with clients; read these tips on performing a remote deposition to see just how serious the change is. Remember that any type of legal dealings are not as simple as firing up a video chat. There are confidentiality and security matters to consider, procedures to be followed, and records to be kept. It will be interesting to continue to follow the changes in our courts system over time.
Restaurant Industry

The restaurant industry has been shaken up like no other time of recent memory. In fact, it can usually be said that no matter what else is going on in the world, people still go out to eat and drink to leave their problems behind for a few hours. In other words, the restaurant industry usually thrives during times of global uncertainty. However, the coronavirus was a new threat. We've seen massive layoffs and restructuring as many restaurants closed their doors and others turned into grocery markets and take-out spots. Beyond restructuring their entire business model, restaurants are now seeing the opportunity to return to dine-in customers, but it's a slow and painful transition.

States and cities are allowing this to happen in stages, but as any restaurateur will tell you, operating at a limited capacity is expensive. The front of house employees are also suffering as they give up unemployment benefits so that they can resecure their jobs, only they are making far less in tips than normal.
Broadcast News Industry
One of the industries in the public eye is the broadcast news industry, especially as many Americans have been glued to their TV screens for the past few months. News teams have tried to maintain social distancing, and you have probably noticed. News anchors keep their distance on camera, and when reporters interview their subjects they often do so via video chat or phone. Some daily news shows with hours to fill have resorted to reporting on videos found on the internet and celebrity gossip--maybe more than ever before. We can only hope that investigative journalism returns to thrive during these challenging times, especially as so much unverified information and misinformation is spread around through word of mouth, social media, sensational broadcast programs, and even official government channels.
In closing, we have seen that major aspects of industry are undergoing a significant period of change and uncertainty, from cleaning to television to legal trends for business. The modern American--as employer, employee, and customer--must be adaptable and resilient.