OPPORTUNITIES AMIDST THE PANDEMIC: COVID19
Let us find out what are the 3 major opportunities that will be after we get through Corona Virus. Almost all the sectors are getting affected through COVID-19. Global, National and Local companies shutting down offices and government forcing people to stay at home. Although, because of all this a big opportunity is seen in the sector of communication and technology providing services.
It is completely new for many of us. Usually, people who are travellers or officials who had a different mindset regarding work culture do work remotely. Most in US and Europe there is an increasing trend of remote workplace in the work culture. Many believe it enhances the productivity as the person working is happy with the environment. These organisations care about efficiency and quality of work no matter from where the person is sitting.
But currently, if we see, almost majority of the world is forced to work remotely during the COVID-19 Outbreak. Leading companies across all over the country will have a stop their businesses. This halt in working would affect the economic situation of the country.
Hence, there is massive rise in video calls/ phone calls etc as a part of virtual communication. This will boost up the usage of communication services. Also, it proposes a new way of sustainable work culture for the future (depending on the requirement of the company, obviously!)
During such pandemics we know how Governments try to hide things, remember Chernobyl. The same happened for China, they tried to supress the facts, not making people aware about the Corona virus. The US Government taking it lightly till the time the deadly virus entered the phase 2. Even Italian government was not able to maintain and control its own people from the attack of Corona.
Because of social media being at its peak, people aren’t afraid or taking a step back in bringing the reality on board. For china, applications like Wechat and Weibo played a significant role in echoing on ground reality and mass public opinion to the government. Similarly Twitter, Facebook, Instagram is still playing a very important role in spreading the right message to the world as well as being a mirror to the government. Such activities has forced many governemtnt to be more collaborative and open to shifting policies as per the people and for the people. Public-Private partnership is becoming firm day by day. Many private companies are taking responsibilities in helping for the public good.
“Crisis is also a type of opportunity.” Such and many more relative statements are heard in the eco-system of business. Current world having the most amount of entrepreneurial stint in them is forcibly looking towards creating more opportunities for future while storming out of the current crisis.
Small and Medium Scale enterprises are becoming more people friendly. Keeping its strategies and work culture more related to people and not just growth. Though, they have a big task ahead in bouncing back to normalcy. It will need whole lot of learning and even bigger unlearning process for businessman of SME’s for catching up the wavelength of growth once normalcy is achieved.
Secondly, Its been half a decade for world to understand “Digitization is the future.” Till date, there are either globally leading companies utilizing the digital transformation or the ones who are just starting up pioneering the same medium. In the current age of AI and much more important technologies business eco-system have an opportunity to bounce back much faster and in an agile way. Also to understand digital transformation does not mean to kill or reduce the orthodox way of working. It has to create more opportunities for the world and its people.
Each and every entrepreneur or businessman would be evaluating its risk management strategies currently seating in isolation (or working remotely.) Due to government hiding the reality or for the people taking it very lightly majority of business has taken a huge impact. Giving more importance to insurance policies, multiple sources of income and integration of online and offline business.
This were the 3 sectors which are currently working and showing a lot of opportunity. These were the types on which everyone is currently working on. Moreover, Technology sector has the highest amount of opportunity available in the future. Once we achieve normalcy around the world. With its data interpretation, agile approach and constant improvement, it will play a very vital role for us in fighting and preventing such deadly situations ahead in future. There are many different opportunities available under the umbrella of technology sector, which we would discuss some other time with lot of detail.