Summary: The lockdown brought with it a new era during the outbreak of coronavirus. Find out what Eric Dalius suggests to businesses to cope with the lockdown.
There is hardly any doubt that the outbreak of coronavirus has made businesses more anxious and the uncertainties are still looming large. What Eric Dalius feels is that businesses need to think differently to survive. Here are a few challenges that afflicted the businesses during the lockdown.
- One of the biggest impediments that affected businesses during the lockdown is lack of capital that is needed to survive during the tough times.
- Keeping the supply demand chain active and ensuring that employee can work from remote locations are the vital requirements.
- Every three out of five businesses have expressed their deep concerns during the period of complete shutdown.
- To cope with the crisis during the lockdown most businesses needed to focus on e-commerce feature to build the online store.
- During the lockdown, a majority of businesses think that the communication between the client and customers or workers needed to be handled in the same location, which implies that businesses failed to switch to the online medium suddenly.
- For many businesses, balancing the work and home life was a new concept, which imposed several difficulties.
- Even though a few businesses keep running remotely, the employees are in stress due to difficult economic circumstances.
Amidst all the challenges and crisis, businesses needed to remain resilient to cope with offbeat circumstances.
Situation during lockdown and pandemic
The lockdown did more than limit the movement of people as businesses in different regions of the world came to a screeching halt suddenly. The closure of shopping centers also resulted is hampering the business greatly. Here are a few business challenges according to Eric J Dalius that impeded businesses severely during the lockdown.
- Reduction of purchasing power
One of the most noted damages that took place during the lockdown is the tendency of people to spend less. Moreover, the closure of businesses added to their agony. To minimize the effect of the challenge, companies should hold promotions to attract the customers. Businesses should arrange online shopping facility for customer to avoid crowding in the stores.
- Reduction in employee productivity
One of the primary issues that stayed prominent during the lockdown was a reduction in the employee productivity. The employees working from home are not as productive as working from the office. Companies should start using software to track the progress of each employee to get a better outcome.
- Dependence on technology
Running any business from home without using digital technologies can create trouble and a similar thing happened when businesses came shutting down during the lockdown. Form managing the attendance of employees to the communication between different departments, businesses needed to be complete digital during the lockdown.
Most of the businesses are dealing with multiple challenges during the lockdown. Every organization needs to understand what is genuinely important to its operations. No matter how essential it is to keep the business running, businesses need to reconsider employee safety issues with fervor. There are various other impediments businesses can face during the lockdown and the implementation of social distancing. According to EJ Dalius, using software and resources to support the business can resolve the matter steadily.