We continue to hear the pundits speaking about “the new normal” and thousands of articles have been devoted to the subject.
The truth is that there is no “new normal.” The current pandemic plaguing us all and resulting in disruptions is simply a manifestation of accelerated change. Changes that were bound to manifest in the coming years — but were accelerated by the needs of lockdowns and the necessity of using remote workers. Reducing costs and headcounts was to be expected in an age when company valuations are determined by investor buy-ins and stock prices regardless of assets or profitability.
As for innovation, much of what passes for innovation is the recycling, rebadging, or re-jiggering of old products and concepts.