In this episode of the Managing Uncertainty Podcast, Bryghtpath Principal & Chief Executive Bryan Strawser discusses the top 4 Business Disruptions that you should be preparing for in 2022.
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Episode Transcript
Hello and Welcome to the Managing Uncertainty podcast. This is Brian Strawser, Principal and Chief Executive here at Bryghtpath. And we’re well into 2022 at this point, and I want to talk about four top business disruptions that you should be planning for as 2022 evolves.
As we saw in the last half of 2021, there’s been a resurgence in economic activity around the world due to monetary and fiscal stimulus, increased consumer spending, increased confidence, but supply chain challenges, rising price pressure, and lingering concerns about COVID have increased inflation. Many pundits predict that 2022 might present several disruptions that could interfere with your ability to conduct business. So here are four disruptions to plan for in 2022.
The first is the unrelenting threat of COVID-19. Experts predict that the pandemic will persist for longer than we expect it. Even though there’s improved awareness and vaccines that are now available, the threat is still high due to low vaccination rates globally. With the emergence of new strains of the virus, the latest being Omicron, and higher caseloads even in industrialized countries, there’s no sign the situation will improve in 2022. Reports indicate that new strains may be more transmissible and more resistant to treatment. With highly dysfunctional health challenges as observed at the height of COVID-19, there’s a lot of uncertainty about how the situation will unfold this year.
There’s also uncertainty concerning the vaccine’s effectiveness in dealing with new, emerging variants. Even though we may not witness new lockdowns or stay-at-home orders, the disruptions caused by the pandemic will persist due to restricted movement and delayed return to work by employees. But this interference may not as be as severe as we previously witnessed. That’s because many foreign trade partners have also recorded a significant number of vaccinations and may not need to resort to lockdowns or travel restrictions. It’s advisable, as you plan, to imagine the worst-case scenarios. It’s better to be overprepared in the case of COVID than to be caught flat-footed when interferences with your business continuity plans and scenarios soar.
The second challenge facing us this year, supply chain disruptions. There’s a lot of