To minimize the impacts caused by the coronavirus pandemic and reduce contagion amidst the population, several countries have adopted preventive measures, which establish social distance and restrict people mobility in their cities.
Eventually, some measures impacted different sectors of the industry. The entertainment and leisure sectors, for instance, are unable to operate without people on the street, consuming certain products or services. On the other hand, the retail and wellness segments experienced some growth.
We are living in uncertain times, and the only truth we can expect is that there will be a pre-coronavirus and a post-coronavirus world.
So in this post we are sharing some thoughts, to help you get through each of these difficult moments.
Keep on reading!
Reframing: try to get something good from the pandemic
It’s obvious that this situation causes much insecurity in business leaders. However, depending on how you face the situation, this can actually be a time of learning and innovation.
Try to reevaluate your company’s processes and to restructure its weaknesses, in order to adapt to the digitization trend and the scenario that will arise after all this issue is over.
Use your free time to innovate and improve your business. Those who won’t adapt to the real world, when everything is over, will be trampled by new market demands and habits.
Only incautious people loose time in a pandemic scenario. If you’re going to walk backwards, take at least the opportunity to gain momentum and come out stronger afterwards.
Cutting costs isn’t always the best option
Currently, it isn’t uncommon to see companies cutting costs to survive in the market. However, have you ever stopped to think that perhaps this isn’t the best option?
It’s true that the demand from companies fell considerably, which arose many uncertainties. This situation caused large retailers to decrease, and even cancel, their orders at distributors and in the industry. The result of these actions causes a domino effect on the whole scenario, which eventually impacts all links in the supply chain.
Consequently, the most vulnerable companies – that is, small and mid-sized ones – will bear the biggest impacts. Some of them will be probably forced to cease their operations, while others will even close for ever.
It’s a fact that your company’s supply chain won’t be negatively impacted in the short term. However, in the long run, when the whole pandemic issue will be over and the market will heat up again, businesses may face major disruptions in their supply chains, with some suppliers going bankrupt and closing down.
Separate to get closer and be more productive
To avoid stopping their operations, many companies adopted the home office model. Being a new situation for the vast majority of professionals, the adjustment period is really complicated, but the gains are evident after some time.
Have you ever stopped to realize how productive is to work at home? It’s now common to hear professionals say that they are now working much more, compared to when they must go to their offices.
This forced distancing caused by the pandemic has brought teams even closer. After all, people must have daily contact to seek alignment and discuss ideas.
Another positive factor is the environment for meetings. Both sales teams and buyers no longer waste time traveling to their business partners. They can just create an on-line meeting room and start talking.
Previously, teams held one or two meetings a day. Today, with technology and digitization support, this number can be easily doubled.
So, has this post been useful to you? What did you think of the considerations we provided here? If you have any others to share, tell us in the comments field!
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