Köngen – Measures introduced around the world to contain the Covid-19 pandemic are developing into a long-term stress test for the industry. 56 percent of companies assume that they will not be able to resume work like before the shutdown until the end of the year at the earliest, or even over the course of next year. According to the current study “New start after the 2020 shutdown,” however, seven percent of companies fear they will not be able to hold out that long. Management consultancy Staufen interviewed more than 730 companies in April for the study. Participants came from Germany, USA, China, Brazil, Mexico, Switzerland, Italy, Poland, Hungary, Czech Republic, Slovakia, and Romania.
“Restrictions introduced to protect people have left deep marks in the economy around the world – and we will continue to feel the consequences for a long time to come,” says Wilhelm Goschy, Member of the Management Board at Staufen AG. The study, carried out simultaneously on four continents, shows the potential for a new start but also proves that the downward trend has a cross-border effect: “Even during the 2008 financial crisis, it became clear that major shocks are not just limited to individual markets. In our globalized economy with international supply chains, a crisis of this magnitude can no more be stopped by national borders than a virus,” says Goschy.
Most companies assume they will most certainly feel the effects of the current crisis until the end of the year. A small minority is more optimistic: 16 percent forecast a return to previous production capacity by the end of June, and 18 percent hope for the end of August. “Some companies end up being quite resistant to crises,” says Management Consultant Goschy, summarizing a core result of the study. “According to them, the shutdown has had no effect at all on the activities of one in ten companies. Another positive aspect is that no participants stated they deliberately wanted to give up production completely.”
The greatest challenge companies are currently facing is defensive buyer behavior. 62 percent stated that a lack of demand was the main obstacle to rapidly restarting the company. Travel restrictions were indicated by 48 percent as the second greatest obstacle. According to Staufen Board Member Goschy, agile companies are particularly well positioned for a new start: “Companies that can smoothly adapt their production to the new demand situation now have a competitive advantage. The lesson to be learned from the corona pandemic is that despite even the best forecast models, companies must always be prepared for unforeseen external shocks to supply and customer chains. Ensuring a crisis-proof market positioning can only be successful if the entire supply chain is organized in an agile and flexible manner,” concludes Goschy.
Please download here the results of the survey:
Please download here a special evaluation of the results for the Hungarian market:
DOWNLOAD “Evaluation of the HUNGARIAN Market”
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About Staufen AG – www.staufen.ag
Inside every company there is an even better one. With this conviction, Staufen AG has been advising and qualifying companies and employees for more than 25 years. Markets are on the move – the competitive pressure is enormous. Staufen helps to quickly bring about the right changes, increase productivity, improve quality and increase innovative strength. With the most fitting strategies and methods, international transformation consulting ensures rapid and measurable success. With an aim towards raising the potential available in every company, Staufen consultants work side-by-side with company executives and employees to establish a vibrant and long-term culture of change. Staufen subsidiary Staufen Digital Neonex supports medium-sized industrial companies on their path to digital transformation. The Academy of Staufen AG also offers certified, practice-oriented training courses. From the international locations, more than 340 employees serve customers all over the world. In 2020, Staufen AG was recognized by “brand eins” as “Best Consultants” for the seventh year in a row. According to the renowned industry study “Hidden Champions 2020,” the consulting firm is Germany’s best lean management consultancy and was honored several times with the “Best of Consulting” award by the “Wirtschaftswoche” journal.