505 Views | 1 second ago | Published On: June 22,2021 - Last Updated: February 22,2024
The phrase "the only constant is change" accurately describes the current state of the global economy, especially over the past two years. In that short period, the market values of many companies have fluctuated, leading to the emergence of new companies on the list of the world's strongest economies, such as Delta Electronics (Thailand) and Tesla. In contrast, others like Petro China have experienced significant declines.
This adjustment was not by choice but rather a result of the COVID-19 crisis that affected the world in every aspect. Its impact on the global economy was not limited to the market value changes of companies, as it also led to the destruction of many entities' economies and the bankruptcy of several governments.
The economic problem caused by the COVID-19 crisis was not limited to the health and pandemic threats but instead focused on the commercial recession and the closure of many markets that previously generated significant income. This sudden change was enough to deteriorate the economic situation of many companies worldwide.
The Crisis caught everyone off guard, but not everyone dealt with it similarly. Many companies succumbed to the imposed conditions and failed to manage the situation intelligently, leading to bankruptcy. On the other hand, many companies managed to escape the Crisis's impact by adapting to the surrounding conditions and harnessing the circumstances imposed by the COVID-19 crisis to achieve astonishing successes and huge profits that would not have been possible in other events.
It is worth mentioning that new global markets emerged during the Crisis, which are still being relied upon today. The primary factors that these commercial entities relied upon were not only to avoid the COVID-19 Crisis but also to maximize and multiply profits. These factors were digital and technological solutions, which included the companies' shift towards digital solutions for sales and communicating with customers to address their desires and objectives during that period.
Digital technology solutions such as e-commerce stores, websites, phone applications, and intelligent management systems are the best way to adapt to any surrounding circumstances. However, digital technology solutions not only help adapt but also assist in overcoming crises and benefitting from them. Digital technology provides innovative solutions to any problem humans may face.
Some large companies have maintained their positions on the world's most extensive market value companies list. In contrast, other companies have been able to catch up with those large companies and approach their market value. The common factor between them was relying on digital solutions in facing the Crisis. One of the biggest companies that maintained its position on the list was:
Thanks to the quarantine imposed by governments worldwide, people were forced to sit for long periods at home, which helped create a surge in the use of smartphone apps, including Facebook's apps such as Facebook, Instagram, Messenger, and WhatsApp. The number of app users increased by 11%, resulting in a 10% increase in the company's profits in the first quarter of 2020 alone.
The immense increase in users and profits for Facebook was attributed to the company's complete reliance on digital technology. As a technology company that earns revenue through advertising, the development of the company's apps was essential for Facebook to adapt to the COVID-19 crisis, providing users with more comfort and flexibility.
Tesla is another company that secured a spot on the list of the largest market-value companies. It is worth noting that Tesla was not on that list before the COVID-19 crisis but was able to harness and exploit it to reach that global position.
At the beginning of the Crisis, all the possibilities pointed towards a decrease in Tesla's stock prices, but what happened surprised everyone. The company's stock prices increased due to the growing demand for Tesla's electric cars in the world's largest markets, such as the American, Chinese, and European markets.
The world has realized the importance of technological transformation, and those who rely on traditional technologies will no longer have a place in the future. Therefore, users and buyers have become more inclined towards products and goods that satisfy their digital desires, as seen recently in the car market, where most car buyers have shifted towards electric cars, leading to a decrease in demand for classic cars.
It is currently believed that digital technology solutions are the most important and best means by which colossal business and economic successes can be achieved, not only at the level of large commercial entities, but they are essentially the only way out of the current Crisis for small and medium-sized business activities, and the most intelligent path for emerging activities.
The role of Alalmiya Alhura Company in Information Technology is based on providing its customers with the best technological solutions that enable them to face current and future crises more professionally and flexibly. Our clients can develop and manage their business activities with greater control and ease through the technical services we provide.
By relying on the digital technology solutions offered by Alalmiya Alhura Company, you can open up new multi-directional markets for your business activity in different countries. We can provide professional interactive applications that serve your business activity and help you communicate with your customers easily anywhere and anytime, increasing your business sales and profits even during periods of recession and Crisis.
You can catch up with the big players by following their professional approach. Alalmiya Alhura provides you with the methodology and tools for developers to make steady progress on the path to success.