March 2020 a month that stopped the whole world, be it business, government, education, travel, tourism, and even sports all came to halt due to covid-19 pandemic. People were forced to stay at home to stop the spread of the virus. In this fast & constantly changing world the covid-19 brought up the unexpected variables in the crisis management plans for which people and organizations were not prepared to handle.
But technology once again came to help mankind to restrict the challenges put forth due to viruses. All credits to the advancement in the information technology domain which helped employees to connect back to their work with the current restrictions enforcement to control virus spread.
With these situations, a new style of work pattern or a crisis management has given birth to the new idiom“New Normal”. Any act in social, personal space or at work due to restrictions is now associated with “New Normal” terminology. But these New Normals are the need of the hour for the existence and sustenance of business.
These new normals have to address the crisis in 3 main steps –
- Deploy new techniques,
- Support & stabilize the methods to respond to crisis and
- Chalk out the Long Term Plan to adapt the new changes in future.
This pandemic has given emphasis for organizations to act smart & fast, and embrace the change to the business if they are to survive and thrive . With this management people will decipher it as extra cost during the weak times. But the old way of doing business has gone, and it’s possible for businesses to both act sustainably and look after their bottom line.
Your Working Assets – An organizations’ sustenance and growth, employees need to be resilient. Management should facilitate work from home options, and guarantee to guard them through these grinding moments, so they can perform their duties effectively and efficiently. Investing in technology will facilitate them to stay connected, collaborate and reduce effects of remote working silos.
Your Relationships – In this environment, corporate relationships must become more than simply transactional. Businesses that have survived the pandemic, regardless of whether they are global multinationals or small enterprises, will understand that their portfolio has to offer more than merely services or products. Helping your vendors and customers by building strong engagement relationships and trying to understand each other and new working patterns will lead the win-win strategy.
Your Business Model – Post COVID-19, the world’s economy has to deal with a variety of upcoming storms and address the issues from unemployment, socio-political unrest, to already existing issues like climate change. Organization’s business model has an enormous potential impact on economic activity and business across all sectors, not just the supply chain. Investing in technology, bringing the reforms in the traditional style of performing business, and passing its benefits to the employees and customers, creating ecology of business sustainability, that will lead your organization to build a long lasting partnership with all.
COVID-19 has come as a shock to the entire industry, and its ramifications will be felt long after it disappears. But life and business will go on, and it’s crucial that businesses are ready for the new reality that awaits .