Editor's note: Oliver Wyman is monitoring the COVID-19 events in real time, and we have compiled resources to help our clients and the industries they serve. Please continue to monitor the Responding To Coronavirus Hub for updates.
Right now, many people want nothing more than to get back to “normal.” But we will have to live under new constraints for the next 12 to 18 months. And, if we hope to avoid subsequent lockdowns of our economies during the next year, companies will need to be proactive and operate differently. To open up our economies again, we must be prepared for the long haul of suppression.
It is critical that we reopen the economy, but it is equally critical that we do it purposefully. Doing so is a long haul — not a short one.
In our full perspective below, we’ve analyzed the impact of moving to aggressive containment on the case curve – early measures resulted in a flatter curve with a lower peak. We've also examined the various phases of COVID-19: Phase 1 (where we are now), Phase 2 (transitioning to this is not as easy as it looks), and Phase 3 (which will be a major step forward depending on breakthroughs). And, we consider what truths about regional shutdowns, mental health, permanent culture changes, and the economy to adopt now, and why more business leaders must accept the shift from crisis management to agile strategic planning.