Coronavirus (Covid-19) is affecting global economies, like none that the world has ever seen thus far, and it could possibly be a permanent change in work strategies and even the way of life. Economic crisis related to the covid-19 is expected to create more critical global economic impact than any previous financial crisis, and countries and businesses will have to chart out new courses and directions.
The economic and financial consequences are currently being dissected and evaluated. Governments have pumped in trillions of dollars to counter the present challenge but these activities may not assure a safe landing for the economies. Businesses (SMEs) must start planning dynamically, now, for a range of outcomes, preparing for the worst and hoping for the best.
1. Analyse the information Gap
This has begun as a slow-motion crisis; risks factors are increasing gradually and unfolding exponentially. Hence, perform timely revision of risk-taking capability ie; business continuity as the crisis unfolds.
Constantly source your facts. Identifying fact versus rhetoric is important and critical.
Stay relevant and current to analyze the implications vis a vis the regulations, statutory instruments, legislations, best practices and the supply chain thereof.
Ensure accurate communication and information with transparency to the stakeholders in a timely manner.
Option to carry out multiple projects simultaneously
Building one’s own Brand
No Office Space Required
2. Define your business needs
Changing topography requires proactive decision making to understand and timely respond, to maintain parity.
Survival of business depends on key elements being in place and eliminate negative impacts on profitability.
Identify those key elements especially the human factor.
Ensure business can continue to avail of cashflow viz; investment and borrowings.
Minimize legal exposures by adhering to standards.
Data is the new currency. Continual feedback and data insights will drive superior decision.
Consolidation and aggregation of risk factors leading to preparedness.
Reassess shifting scenarios and revise business and operating models accordingly, keeping fundamentals constant.
Recognize the cushion that Insurance provides and harness it.
Ensure timely, clear and well managed external communications.
Ensure action on regulatory and legal requirements.
Create the unique culture within, that sets you apart.
We know that ‘Change is the constant’ and the world stays changed after this epic crisis! As equations change, be relevant, as even this phase too will pass. COVID19 will be overcome and do not allow it to overcome us for lack of our response.
out the digital form to submit an enquiry.
HOT LINE: 00971 52 6934770
UAE Free Zones
Oud Mehta Offices Building (Opp. Wafi Citi & Next to Citi
P.O Box – 85570
Dubai – UAE.
Tel: 00971 4 3245630
Fax: 00971 4 3245640