Gartner, the leading management consulting company says, “We’ve all changed the way we operate during the Covid-19 crisis. Some changes were forced on us; others represent the height of innovation in a crisis. There’s been a reset of the workforce and work itself, a reset of the employer/employee relationship and a reset of the business ecosystem.”
To face the challenges posed by the pandemic, businesses across the world had to react in agile and decisive ways. And to move into the next phase, businesses now must seek out and grab the emerging opportunities. This includes carrying out a review of actions taken to collect data on the lessons learned during the pandemic and then using them to prioritize actions to improve the business values now and build strategic resilience for the coming days. These steps can help businesses stay well-placed and take advantage of opportunities effectively that arise in the post-pandemic recovery and continue to perform better in their marketplaces as more stability returns.
- What will be your position after the pandemic?
If you wish to make smart decisions, you first have to understand your organization’s position in the market and your role in the ecosystem and also about your top competitors. You should also understand where you want to reach.
Many organizations questioned their viability post-pandemic, especially those in the travel and hospitality sectors. But there are other organizations that are speeding up their growth because they are in great demand, such as home-office equipment, internet-enabled communication and collaboration tools and home delivery services. You must figure out your position as the pandemic eases.
- What is your bounce-back plan?
What course of action do you wish to take up to attain the position you hope to reach? You should be clear about what you have to do now to reach your objectives in the coming days. So, the most important question is what should you do now to tide over the crisis and be back in business when all this ends?
Without a proper plan, things will only worsen in such a confusing situation. And when you draw a roadmap, you should think deeply and widely and take a long view.
Keep in mind that your competitors are also in the same situation. Everyone will have to rebuild, so do not try to rush. Do not expect to be back to full production immediately. Returning to the work environment will take some time. Keeping that in mind, consider allowing your employees to work remotely for a while, than immediately returning to full-time in the office. Additionally, one of the main issues will be of cost and expenditure. You should keep expenditure to a minimum till your team is back to full productivity. It may have reduced during the pandemic, so try to keep expenditure at a low level too.
- What new projects should you launch?
While answering the above questions you should have a set of projects to address. You should plan so that you can coordinate initiatives that will make your organization ready for any such issues in the future. Remember not to start too many projects that depend on the same vital resources and with the same people, like the top managers, or certain departments, such as IT. Too many new initiatives could lead you to a resource crunch and that might delay the strategic response.
You should also review your organization’s preparedness. See if you are ready to accomplish the projects you have planned, especially if the majority of your organization is working remotely. There may be huge differences in preparedness at the individual, team and organization levels. The resources, the quality of the decision-making process and the speed of it differ and this will decide how successful you are.
Even before the pandemic hit the world, businesses were facing pressure to act responsibly and now the crisis has accelerated it even further. As we look at recovery, we look at this chance much more as a challenge. With such a significant economic and social impact, it is necessary that we radically change the way we work. It is a chance to change from a growth economy to a value-based one. Moreover, flexibility in business was always an advantage, but now it will be vital for survival.
About the Author
Mr. Harish Jagtani, a philanthropist, visionary, businessman of Indian origin, currently based in Democratic Republic of Congo for more than 20 years now, is one of the most reputed business owners in the Indian diaspora as well as the entire expat business community in DRC. The business house caters to multiple domains, including but not limited to Domestic as well as International Air Cargo, real Estate and infrastructure development, healthcare, hospitality as well as CSR.
Coming from humble beginnings from Jaipur, Rajasthan, Mr. Harish Jagtani has come a long way in building this conglomerate with a strong and clear vision, sheer dedication and grit. Starting with a small job in sales, Mr. Harish Jagtani today is a proud and righteous owner of a fleet of airplanes and multiple businesses that cater to the basic and advanced needs of the people of Dem. Rep. of Congo in different sectors.