Blueprint of post covid development model

Note4Students

From UPSC perspective, the following things are important :

Prelims level : Not much

Mains level : Paper 3- Post-covid development model

The article discusses the themes of the post-covid world which will be somewhat more aware and mindful of the dangers of global dimension.

Collaborative model and public-private partnership

  • A few weeks back, Prime Minister visited the private companies involved with the formulation of the anti-COVID vaccine.
  • The PM’s visit was one more reminder of the critical importance of public-private partnerships.
  • The PM signalled the government’s receptivity to external expert advice.
  • The CEOs reaffirmed their commitment to partnering with the state to help address not just this medical crisis but also the many other social and humanitarian problems.
  • The government has appreciated that the model for sustainable development in a post-COVID world must be a collaborative one.
  • Businesses will repurpose their goals and look beyond profits.

Working together to deal with the crises of global dimensions

  • COVID-19 was not the first, nor will it be the last crisis of global dimensions.
  • The threat of global warming, for instance, hangs over our heads.
  • Its impact is less immediate and for the present, at least less palpable.
  • But it looms and its consequences are existential.
  • COVID has offered, it is the tangible evidence that no one entity or group — the state, markets, businesses, entrepreneurs, scientists — can tackle existing and emergent economic and social problems on their own.
  • They have to work together to resolve them.

Business uncertainties

  • Businesses has been the uncertainty of operating in the post-COVID digital world.
  • Every business leader has, in some form or other, expressed three types of uncertainties.
  • 1) Is their business facing a hinge moment, necessitating the reimagining and re-engineering of their strategy and product portfolio?
  • Or are they witnessing no more than another turn of the business cycle and that, once the vaccine is developed and distributed, the market will return to business as usual?
  • Or will conditions necessitate a middle of the road approach: Stay the pre- COVID course but at the same time, speed up the pivot toward a new business model.
  • Most business leaders are adopting this third hybrid path.
  • The key to corporate success in a digital world in which a distinct incident could influence it, is the capability of leaders to think out of the box and to handle the unexpected.
  • Financial, technological and human resources will be necessary, but they will not be sufficient.

Consider the question “The post-covid development model must be based on the cooperation underscored by the public-private partnership as the challenges that could emerge are not possible to be tackled by any on entitiy. Comment”

Conclusion

COVID has “obliterated the one remaining obstacle to a digital future — human attitudes”. Covid forced them to adopt and adapt. The challenge for our business leaders will be to navigate a pathway that sustains the benefits of these tools but without deepening the existing social and economic inequalities. Life is not digital for millions in our country.

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