26 May 2020
From regulatory changes to workplace closures, Covid-19 has far-reaching implications for businesses in Singapore. As the circuit breaker ends on 1 June 2020 and economic activities gradually resume in phases, this article identifies eight key areas which directors may wish to reflect on in the shift towards a new normal. These include managing cash and credit, public disclosures, transforming the workplace, digitalisation and strategic planning. Pending the discovery of a vaccine, organisations will need to adapt so as to promote business continuity while protecting the health of their employees and stakeholders. They should be mindful of latent risks such as the potential resurgence of infections and the lack of clarity on the pace of economic recovery. In charting the course forward, directors should also think about how organisations can upgrade their capabilities and reshape their strategies to best position themselves for the future.
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