Doing Business During Pandemics

The Covid-19 pandemic has completely changed our world and the way business is conducted. The effects of the Covid-19 pandemic  will be felt for many years after a vaccine has been discovered. The Covid-19 pandemic has caused new challenges in businesses relating to: finance, operation and human resources.   The additional challenges will be felt by customers and suppliers alike. Covid-19 has swept across the globe and devastated many households. Considering the damage inflicted by the Covid-19 pandemic it’s one of the most deadliest corona viruses we have ever seen.

Best practises can be discovered by focusing on the impacts of Covid-19 on: The impacts on finances, customers, operations, , technology and industries.

There was a certainty that the Covid-19 virus originated from a bat then it was transferred to human beings.  A market in Wuhan China was linked to many of the first cases of Covid-19. Scientists are still trying to discover how the Covid-19 virus was transferred to humans. The problem that they are currently facing is to find out exactly which species of animal passed on the virus to humans. If the scientists are successful in their problem solving they will have insight on how to prevent a future corona virus outbreak. Markets in China known as wet markets are known to have live animals traded. In the past wet markets have been involved in corona virus outbreaks like the Sars outbreak.

There was another discovery during the early outbreaks of the Covid-19 pandemic. Some Scientist discovered that the virus can also be transmitted when it’s airborne. According to Scientific research aerosols can travel in the air for a long period of time and travel further.  Recirculating the air indoors and increasing  the number of indoor ventilators can help make a difference.

There’s other references that suggest that the Covid-19 virus was created in a Chinese laboratory in Wuhan.  The latest Covid-19 updates show an estimate of 7 million confirmed cases and deaths of over 400,000 people globally. The confirmed cases are from 188 countries globally. The highest death toll comes from the United States Of America; the second and third highest are the United Kingdom and Brazil respectively.

The Covid-19 virus was first declared a global pandemic when there was a major outbreak on the 11th of March 2020. A global pandemic happens when an infections disease like Covid-19 spreads rapidly from person to person in several countries at the same time. 

Approximately 4.5 billion people were living in lockdown during social distancing restriction measures in Europe . According to AFP news agency 4.5 billion people is half of the world’s population.  These restrictions have had a massive impact on global economies; the world now faces a recession worst than the great depression of the 1930s

Best Practises

Prioritising the most urgent challenges for a business can be a good place to start when trying to figure out best practises.

Leadership teams need to collaborate in order to tackle the immediate challenges within the business. Health and safety should always be the first priority. Leadership teams need to address challenges relating to the safety of their workforce. 

Secondly the clients of the business should be considered. Business Leaders can ask themselves the question of how their clients will be affected during this global Covid-19 pandemic; they should also find a solution to help clients. Due to social distancing measures business leaders also need to consider cancelling and rescheduling events relating to their business.  Your business leaders should also consider whether it’s beneficial for the business to allow it’s workforce to work remotely; and how many members of the workforce will be allowed.  Another option for businesses during this Covid-19 pandemic is to offer support to members of the workforce who have children studying.

When it comes to communication businesses should continue to update their workforce regarding changes that have been made and any other business. Video conferencing should be given priority during these uncertain times of the Covid-19 pandemic. Communication should also be maintained outside of normal working hours.

Members of the workforce should consider completing most of their work from home. Working from home can help limit the exposure to the Covid-19 virus. Since health and safety is the first priority business leaders can easily allow a large portion of their workforce to work from home. Additional training should be offered by businesses in order for their workforces to work from home effectively.  

Video conferencing is now an essential part of everyday business life. Some of the popular video conferencing solutions are:  Zoom, Microsoft Teams, High Five, Google Hangouts and Facetime. Key business leaders in their respective organisations should encourage conversations and remain active throughout the day.  We all have to face the global Covid-19 pandemic together; children and spouses should also be encouraged to make a contribution to the conversations.

Managing cash flow during this Covid-19  pandemic is a going to be the difference between a business that thrives or one that dies. A support network of professionals  needs to be formed to help tackle issues of cash flow.  Cost cutting measures should also be implemented in every area of the business. Without cash a business will not survive; financial planning should be the second most important priority for a business after health and safety. Business leaders also need to consider the future impacts of the current recession caused by the Covid-19 pandemic.  

After prioritising the most urgent challenges that your business will encounter businesses can look for opportunities that make a difference.  Changes can be made by looking for shifting market trends and then adjusting to those shifting trends. Businesses can also look for new ways to market their products and services. Innovation will play a massive role when it comes to finding the most suitable products and services to offer. Business leaders around the world should leverage on the unique selling propositions of their businesses; once this is achieved changes can be made to the communities they live in or even globally.