Essential Attributes of the Global New Normal and Emerging Global Skills

Abstract

The introduction of COVID-19 into the Global Business Arena was a shock, and it resulted in the discovery of a New Normal in the worlds of business and industry. Businesses have been able to adjust one's behavior in response to changes in the environment and remain viable in the long run due to this New Normal. The New Normal is characterized by people working away from their offices and from their homes. During the COVID-19 Pandemic, analysts projected that positive trends such as the emergence of e-commerce and the increased usage of digital banking would continue. As seen in various lockdowns and travel restrictions, governments in different nations continue to be significant contributors to business regulation in the global environment. The New Normal hampered physical travel and collaboration, but the virtual world was the most important contributor to the economy's ability to go further during the pandemic. Furthermore, this epidemic has honed global abilities relevant to the modern world. With all of the changes in our sector, global skills such as communication skills, resilience, and digital literacy have been identified as the most in-demand in the industry. Businesses required global managers that were digitally savvy as the virtual world grew in importance. To analyze diverse worldwide trends and global skills in the global business environment, the researcher used a variety of research published in journals, secondary data, and different articles. For global business managers, the significance of this study will serve as a guide on how to interpret and navigate the context of various global trends concerning the development of New Normal and the emergence of global skills for global business to survive and compete in the long run.