Existential challenges for business leaders post-pandemic

ABSTRACT

The Covid-19 pandemic has been referred to as an 'existential crisis'. It is true to say that for some businesses and organisations the pandemic has indeed been a crisis, and one which they did not survive. It has been an anxious time for business leaders and unfortunately the impact of the pandemic has resulted in many established businesses going under and many people losing their jobs. It is certainly true that the pandemic experience has brought existential issues such as uncertainty, anxiety, time and temporality, meaning, authenticity and relatedness more to the forefront, not just for individuals but also for organisations. The business world, with its five-year plans and milestones, and the conventions of an office based 9-5 business model, has been severely tested by the pandemic. Post-pandemic a company may find that its intangible assets, such as intellectual property, winning brands, innovative ideas and, most importantly, talented staff are now equally, if not more, important that its hard assets. The pandemic has been experienced by some as a loss of freedom. Many found it difficult to take on the freedom and responsibility to structure their own time;they missed colleagues and the ease of immediate consultation and feedback. (PsycInfo Database Record (c) 2023 APA, all rights reserved)