2020 was off to a rocky start when in mid-March, the world abruptly became aware of the global pandemic that is now known as covid19.
No one anticipated the impact the virus would have on businesses and livelihoods and since then, businesses around the world have been disrupted as a result. The virus has changed and continues to change business landscapes as we know it.
Some businesses have managed to keep afloat thanks to digital capabilities. They have been able to transition somewhat smoothly by shifting their operations using a remote working style. While making use of online tools such as Zoom and Slack to help facilitate online communication and conferencing, allowing for projects to continue.
Other businesses, such as those who are affected by the restriction of physical movement, have not been so lucky. For example airlines, restaurants and shipping companies. Businesses who are also less prepared for technological changes like many retailers are being badly affected as well by the pandemic known as covid19.
When the virus first made itself known, businesses would have done well to have had a contingency plan in place in response to the threat, while still remaining true to their mission and vision. Being able to be flexible and make quick decisions that are easily adjusted on the basis of new information in order to effectively adapt is crucial to a business’ survival.
In times of crisis, the operational challenges that a business faces need practical and alternative solutions. In this case, communications and leadership should shift and expand into the digital space where possible. If businesses have never made use of digital capabilities before, they likely are now.
If covid19 has taught us anything, it’s that businesses must reassess their plans regularly, not only for the year but on a longer-term basis as well to effectively stay on top of things. It’s also important that they remain resilient and make every effort to bounce back during this time of crisis, doing what they can to minimise the negative impact.
One thing is for sure, we will see big changes in demand and supply that are likely to last a long time.
In the short term, current demand for certain supplies, such as hand sanitizers, face masks and gloves are guaranteed to be high. So this is a good time for businesses to assess their capabilities and look at how they can perhaps meet the world’s immediate needs. Do some research into how you can upgrade, leverage or complement using new technologies and perhaps consider partnering up with other businesses, finding and pursuing new opportunities and being adaptable and fluid in order to survive and drive change.
Businesses can look at serving new and different customers by stepping out of their comfort zones in order to learn new skills. This will prove highly important and helpful as it is critical that they continue to move in a forward direction as covid19 continues to present an increasingly unsure future, certainly in the world of business.
Businesses who actively choose change and embrace the change while moving forward are statistically likely to do better in uncertain times.
