Different Thomasian business players weighed the effects and possibilities the ongoing pandemic has brought, which resulted in "survival mode" of enterprises, e-commerce opportunities, and other emerging business platforms.

"No business is immune to this pandemic, it's unfortunate but not everybody is going to make it," Podmetrics founder and CEO Ron Baetiong said via UST Tiger TV Facebook live discussion titled, "Business Unusual: Industry Transition to the New Normal," Friday, June 19. 

"There's a light at the end of the tunnel, but we're not over the hump yet because the after effects of the virus are just manifesting now," he added. 

While small and medium-sized enterprises (SME) are bearing most of the economic brunt, there are still different opportunities for aspiring entrepreneurs and long-time businesspersons in the "booming" e-commerce sector.

Lazada Philippines' Country Head in Marketplace Finance William Mata said that the e-commerce industry witnessed a "boom," especially now that people's mobility is limited due to the health measures during the COVID-19 pandemic. 

Despite the increased demands in e-commerce, Mata stressed that Lazada Philippines does not "want to take advantage of it," but instead use the opportunity to "boost and help" small-time businesses that use their platform.

Adapting to better normal

Face-to-face interactions hampered deliverables and work flow. Work from home arrangements and virtual meetings with the use of online tools became the most efficient way to carry out work. 

Procter & Gamble senior manager Yanna Umali said that different companies must aim to adapt and be agile for the "better normal." 

"I think what really changed is the level of engagement that we normally have with our coworkers. It's different having it face-to-face," Umali said. 

Despite closing branches in this pandemic, the banking industry was able to recalibrate and reorient their systems due to banking digitization which helped with their services. 

"We are forced to close all of them, given the pandemic, but we are able to adjust and recalibrate our operations," Metropolitan Bank senior relationships manager James Soyangco said.

Explore 'blue ocean'

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With different SMEs venturing to e-commerce platforms, entrepreneurs are faced with tough market competitions, especially in already saturated industries. 

Businesses, according to Baetiong, should explore the "blue ocean" or markets that are not yet competitive and saturated, and are easier to dominate and make profit from. 

"Blue ocean is a strategy that allows you to execute in a market that is not saturated," Baetiong said.

"It is easy to be the first mover and it's easy to dominate without having to compete right away with bigger juggernauts," he added. 

Last June 11, the Bureau of Internal Revenue directed online sellers to register its business activities and settle appropriate taxes amid community quarantine protocols.