This week, there was a glimmer of good news for Ontario architects: construction and architects have been included on an ?essential services? list, allowing them to continue to operate during the COVID-19 shutdown. Nonetheless, as a slow-down of work takes hold, architecture firms are facing difficult decisions in the weeks and months ahead.
To gain insight on the situation, we spoke with business strategist Rowley Mossop. Mossop is principal of Innovia, a management consultancy that specializes in advising creative companies. Their client roster includes architecture and engineering firms of a range of sizes, operating in Canada and internationally.
Here?s what Mossop had to say.
Photo by Benedikt Geyer on Unsplash
On the current economic situation We haven?t had an economic shock like this ever before. Most recessions are triggered by a failure in one function of the economy, like mortgage finance. This is unprecedented because it affects every sector of the economy?hospitality, food and beverage, bricks-and-mortar retail, industrial production, the supply chain for industrial production, the supply chain for construction, finance. Everything looks like it could grind to a halt.
So even if it is short, it?s not an economic shock like the others. And it?s also not necessarily going to be short. We?re advising our clients to use a four-month planning horizon. We see this as very serious challenge that?s going to be a marathon, not a sprint.
We expect that the firms that wit...