Covid-19 is a new term of coronavirus. The world is shaken with this new virus. WHO is announced that Covid-19 is a pandemic. “This is not just a public health crisis, it is a crisis that will touch every sector,” said Dr Tedros Adhanom Ghebreyesus, WHO director-general, at a media briefing. “So every sector and every individual must be involved in the fights.”
Many businesses prepared with 5 or 10 years of individual strategic plans for any expected economic crisis however none of them were prepared for the unexpected virus. Countries are locked down! People are panic and increasing chaos with their nervous behaviours.
We should ask some question to our self that;
-What are the right reactions to release the pain?
-How people management authorities react to take action to avoid chaos in their organisations?
Some of the tech companies locked the offices. Some of the public buildings are shut down. All the restaurants are almost empty. Very rarely people are shopping in high street shops. However big supermarkets and local shops are having a crowd with panic shoppers. Psychologists will now focus on consumer behaviours around scarcity.
There is another question;
-How supply chains will handle all customer demands for certain products?
On the other side of the shopping sector; High Street Brands are having a double effect of Covid-19 Pandemic. Many brands are going to do an emergency action plan for their sales strategies.
Governments can advise people on how to react to avoid panic and stay safe at home however do they have any action plan to support companies?
To survive with this Covid-19 Pandemic crisis every company small or big needs to have an urgent Risk Management Action Plan. The most common symptoms in health crises people are protecting themselves and their valuable belongings and avoiding spending money on non-emergency products and services.
To make transferring money from one sector to another, there must be an“Invisible Hand” supported by a government authority to scale sectoral balance.
The last content would be not only focusing on the problem. The first and urgent reaction must be focusing on solutions either way in health and economy.