It’s been over a month that we’ve been under lock-down. This pandemic has stricken the world unexpectedly and with full force, causing a lot of uncertainty and instability for companies and individuals alike. But what have we learned so far?From a business stand point, most industries were hit hard and consequently were forced to lay off employees especially those related to oil & gas, hospitality, retail, travel, and entertainment (excluding home entertainment) while others, such as tech companies and healthcare, benefited from the lock-down.
In the midst of all this uncertainty, one fact remains: only the strong and resilient will survive. When speaking of survival in such times, the first thought that may come to our minds is strong cash liquidity. However, this is not the primary factor that influences a company’s sustainability. Research has shown that the performance of a firm’s leadership team can highly influence its post-crisis outcome and this performance is not limited to employee motivation or focusing on the humanitarian aspect but extends to the realms of adaptation. It is evident that after this pandemic, the world as we know it will change and this includes shifts in consumer behavior and business practices. As a result, organizations looking to survive must apply high levels of market scrutiny and identify the changes that are taking place to eventually recreate or modify their products/services accordingly. Time is of the essence during a crisis and the faster a firm’s leadership acts, the higher the odds are at gaining an edge over competitors.
From a humanitarian standpoint, the current circumstances have been overwhelming on a global perspective to say the least. Mental health has been a heated topic with experts highlighting its significance in numerous webinars. With limited humane interaction and social distancing, the need to communicate has been it at its peaks infused with anxieties about the unknown. But through it all, this pandemic has allowed individuals to identify and explore the things that mean the most. As a result, family bonding activities have increased, friendships and relationships are growing stronger, and empathy is at its highest.
On an individual level, now is the best time to reflect, assess, and cherish the blessings that we have in our lives while being assertive that we shall all emerge victorious and stronger after this period is over through practicing consistency and self discipline as time is on our side. Human beings are adaptive creatures by nature and the current pandemic should be considered a means towards further evolution and growth.