Many companies are struggling with their existing business continuity plans because they are not effective in managing the rapidly changing and unknown variables of an outbreak like COVID-19. Then again how many businesses could have anticipated a global pandemic of this magnitude. There are many approaches being used in continuity plans and the contents of the plans depend largely on the industry the business is operating within and the impact of COVID-19 on the business. It’s a good idea to use an incident management approach however what has been working for me with my clients has been using scenario-based plans because you can make them specific to COVID-19 as well as to specific areas of the business. The other key thing is developing a flexible communication plan that speaks to all stakeholders with the focus on factual information that gives the real picture in as far as possible.
One of the biggest challenges is meeting government priorities and at the same time trying to meet the obligations of the business and mitigate the risk of business disruptions. The approach I have been using is focused on what I can help my clients to control and anticipate extraneous variables and respond to them if and as they happen
It will require more agility and they have to update their business plans to fit the markets now.
Hi
Please check the following link. I believe it will help you.
https://hbr.org/2020/05/lead-your-team-into-a-post-pandemic-world
Regards
In Vietnam, my country, with about 300 cases and no death toll, everything comes to normal. We suffer less in comparison to other nations.
Businesses should be strategic and innovative in the changing context as a result of COVID-19 pandemic by developing virtual marketing platform channels/outlets in order to continue to meet their obligations and that of government.
Companies must reorganize their business plan according to the current market demand to start their commerce again. The flexibility of the plan and focusing on the needed goods of market could be two significant points of success in this situation.
Simply. They won't. It all depends on their financial resilience. The great impact of Covid-19 will be asymmetric, and the future depends on the specific industry.
Due to the SARS-CoV-2 coronavirus (pandemic Covid-19 disease) pandemic, many companies have been forced to postpone their development and investment plans. Once the pandemic is over, business entities will be able to resume their business plans. A lot of data indicates that since the beginning of May 2020 in some countries the pandemic has started to decline in the direction of extinction. Therefore, soon most business entities will be able to resume their business plans.
Greetings,
Dariusz Prokopowicz
It will adapt to the new circumstances and cross the stage, despite the losses.