My take as a businessman in the Global Crisis re COVID19
SMEs and Large Scale Businesses
COVID-19 was officially declared as a Pandemic by the World Health Organiztion on March 11, 2020. Being a global health crisis that affects the whole world, we cannot deny the fact that it has greatly changed the way we do business all over the world.
In times of crisis, everyone is in a hurry to take action and make a decision regarding their respective businesses. As for me, we have to take a look at the situation and be very careful on the decision that we will implement.
Small and medium enterprises, business start ups and large scale businesses need to assess the situation and foresee the situation.
The decision of the big companies may not be applicable to the start ups or small businesses and vice versa. Some big companies are declaring work from home, closure of businesses, shifting to online businesses in an instant according to the law and policy implemented by the government authority.
The questions are: Can all the companies afford that? Are all businesses capable of continuous function without the physical store and manpower support?
As a businessman, I need to assess first what I have, what is the category or industry I am in, what are the tools that I can use during this crisis? Do I have enough manpower, can I do the business remotely? How will I support my people and make sure they are safe at the same time.
We cannot make abrupt decision. We have to carefully take a look at the situation and decide on how we can still function considering the restrictions, safety, and as well as the stability of the company.
Redesigning the work flow, making some changes and adjustments on the tasks and function of the people who works with you to adapt to the current situation may be necessary in order to still function and to still create sales.
The most important thing for me is, you and the rest of your team is willing to work together to reach the goal of the company. Their support to you will also depend on how you are supporting them. If you take care of your people, your people will take care of you and your business.