It has been months since the Corona Virus outbreak in the whole world. Different organizations try to provide healthcare procedures to save people’s lives. However, today, after all these months, we need to provide some procedures to help businesses and brands survive.
The Virus has affected people from different social statuses and positions. It can also influence businesses from large and globally-known ones to the smallest of them, like a vendor in a small town street. We are all facing the consequences of Covid-19 equally.
Therefore, we need to change our behavior towards brand building and business. If we do not act according to healthcare procedures, or ignore the social distancing, we would have to face severe consequences. It is the same here; businesses that want to continue their old management methods might get really damaged.
Businesses faced the human resources crisis at first and were dealing with ways to manage that. This happened during the time they were already dealing with the issues regarding financial resources and earning money. In the next level, they were forced to review their marketing strategies. The companies have made decisions about human resources that we hope to have been useful in their related areas. However, there are ways for businesses to conquer the next level.
The first step is to review our whole business. If our products or services are somehow against the healthcare procedures, we need to redefine our business.
The next step is to examine the tolerance of our business. McKenzie, a global research company, says that we have to live with the Corona Virus between nine to eighteen months. That is why we need to check the tolerance of our business during this time. We have to examine our expenses and income and estimate our brand’s ability to survive during this time.
The third step is getting to know the chain of value. Who provides goods or ingredients for us? Who turns those into products or services? And who consumes the products or services? It means that we should know the producers, employees, and our clients. When we got to know this chain, we have to make conversations and find out new ways to interact with them via sharing the amount of expenses, predicting the future, and finding solutions to endure and overcome the crisis.
The fourth step is to be mindful of the fact that we shouldn’t only see ourselves. Our life depends on other’s lives. We are all part of a bigger complex, and we need to take care of other’s businesses in addition to ours. If a company goes bankrupt, it means that a lot of employees would be affected. Therefore, another business which is the next loop in the work and activity chain would be damaged.
Do not forget the effects of this crisis on aspects of human life other than finances and business strategies. The psychological effects of the Corona Virus on every individual in the society such as consumers, human resources, or CEOs aren’t something that we can ignore. We all need to work together to overcome the crisis. Just like medical staff all over the world, businessmen and businesswomen need to stand together and try to work alongside each other. Our cooperation means that we can endure and overcome the problem, easier and with more reasonable prices.