Markets overcome government lockdowns to keep life going

Businesses across the world are fighting for surival amidst a pandemic which has caused local governments to shutdown livlihoods for many. The forced social distancing has disrupted many industries which rely on in-person gatherings. Thankfully, many businesses which had not previously been operated remotely have been able to adapt due to market solutions in telecommunications.

Being able to work virtually has meant that many businesses have been able to stay open which would have otherwise been forced to shut down, potentially for good. While prior to the lockdowns working remotely was around, the need for so many businesses to shift in a pinch has been answered by readily available technology and services. Though this solution may not be permanent for all businesses, it has been a crucial feature in keeping the doors open in may places, and may outstay the COVID lockdowns for some. As Reason writes:

Part of the stickiness of remote work arrangements may be that their time has come. The technological capability has existed for many years for desk-based jobs to be performed from anywhere, yet managers were often hesitant about allowing employees out of their sight. COVID-19 overcame that hurdle for many businesses.

"The pandemic has helped workers and organizations overcome inertia related to the costs of experimentation, as well as inertia stemming from biased expectations about working from home," BFI notes.

Importantly, too, the experience has proven positive for workers and employees alike.

"One striking finding is how greatly workers benefit from these arrangements," Harvard Business Administration Professor Prithwiraj (Raj) Choudhury wrote last month in Harvard Business Review. "Many told me that they regard the freedom to live anywhere in the world as an important plus. For those in dual-career situations, it eases the pain of looking for two jobs in a single location."

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