This is the year that forced us to embrace uncertainty and a different understanding about how time perception has an influence on our behavior.
On one side we learnt to be efficient in a virtual communication environment. We applied the basic business principles but with an enhanced sense of urgency and continuously readjusted assumptions and execution decisions to be taken. Resilience became one of the main leadership needed skills.
On the other side came the realization that the business needs to focus on long-term sustainability. The dangers of just looking into your last quarter results.…it was a contrast between the constant daily urgencies and crisis and the clear realization that only a business with solid, durable and deep rooted fundamentals will survive.
2021 will show the first big steps to defeat the pandemic and in parallel signs of economic recovery (through big government stimulus). Anyway the risk of an economic slowdown is always there. Also, we should consider a slow change in demographics behavior due the increasing income gap between different social sectors.
Technology will become even more important to identify these changes and the ability of the operators to adjust the product quickly (and accurately enough) will be even more important under this fast moving environment.
*Angel Sueiro – Chief Operating Officer, PH Resorts