As the pandemic is brought to a manageable level on a long-term basis, either through a vaccine, treatment improvements or other steps, government action will return to the normal pattern of slow, legislatively-driven regulations rather than rapid emergency edicts. Although the post-pandemic regulatory environment is expected to include permanent changes in operating rules to protect public health, those changes will be less onerous and stable, allowing for business to evolve within that environment and move forward. Again, the changes in airport security provide a good example. As government actions become less frequent, less intrusive and more predictable and as the virus itself becomes less of a threat to suddenly overturn the economy, standard economic forces and principles will once again be the primary drivers of markets and financial performance, making long-range planning and business evolution easier. This does not mean that the recovery will be complete, as we have already discussed. It means, however, that it will be on a more predictable and stable path and that actual new growth will be in reach. During this period, new procedures, designs, products, pricing levels, staffing levels and market positioning developed during the transitional phase will stabilize and become a permanent part of each industry sector throughout Indian country and the U.S. as a whole, always with the local nuances and peculiarities of an economy and geography as large as ours. Also during this period, new business ventures will begin to appear and grow, replacing lost businesses that were unable to survive the crisis and seeded in many cases by the very staff and investors of those same businesses. Not unlike a forest floor sprouting new growth after a fire, the economy will be boosted by new versions of old businesses and business models and by some new growth that is entirely different in character and focus. Such new growth carries its own instability and weaknesses. However, it also drives advancement for the economy as a whole. Within this context, key recommendations and areas of focus include: Resumption of traditional rather than emergency strategic planning to maximize market position and profitability Continued communication with customers, employees and civic leaders. More significant capital expenditures to maximize the efficiency, customer appeal and profitability of operations A resumption of traditional government advocacy to refine, improve, add or remove post-pandemic regulations Exploration of new business lines, cross-fertilization, vertical and/or horizontal integration and other opportunities in the new economic environment given your own internal strengths and weaknesses Document all actions taken during crisis and recovery, including what worked and what did not to provide a guide for future crises
∴ PRESCRIPTIONS
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