Business

the key to businesses surviving the pandemic

Readiness to learn: the key for businesses to survive the pandemic

The production and supply chains of goods, services, materials, among others, have changed dramatically in the wake of the pandemic, so companies have had to adapt to current circumstances.

BY RRHHDigital, 12:15 – March 30, 2021

Almost a year after the World Health Organization (WHO) officially declared SARS-CoV-2 a pandemic, the business sector continues to face major challenges posed by the virus that has been identified for first time in Wuhan, China at the end of 2019.

On the one hand, companies have had to take serious transformation and adaptation measures at the strategic level and in their economic models. Some studies indicate that companies with a too vertical structure have made a horizontal conversion at the organizational level, taking as an example the personality of startups and technology companies. It is obvious that the risk of not adapting is very high, and this is already reflected: in Colombia, for example, business closures increased by 63% in the first half of last year, according to the Chamber. of Bogota, and the reality of the current 2021 is not promising.

In contrast, the same business sector, through censuses and surveys, has indicated that there are five main areas where it has struggled since the start of the pandemic:

economic and financial zone. The immediate effect of the coronavirus crisis has been the devaluation of currencies around the world, particularly in Latin America, making the purchase of imported raw materials and supplies more expensive. This generates a sense of uncertainty in businesses, compounded by the lack of liquidity due to delays in customer payments, fixed operating expenses and payment of taxes. production area. The drop in sales resulting from the inactivity of some customers, whether due to the cancellation of services, budget cuts or a presence in other countries, put the production line in failure. With a blocked production, the negative effects in the medium or long term are reflected in the precariousness and the expiration of the inputs. Health and security. For employers, the health and safety of their employees is a high priority during the pandemic, which is why companies have taken action to prevent the spread of the coronavirus. These measures were an investment but also a lesson in terms of adaptability and innovation of their companies. Procurement and procurement. The production and supply chains of goods, services, materials, among others, have changed dramatically in the wake of the pandemic, so companies have had to adapt to current circumstances. The shortage and rising cost of raw materials and supplies, the slowing down of production-delivery processes and ensuring product hygiene remain a major challenge. workspace. With regard to human capital, employers have adapted their execution processes with remote and flexible working options for their workers, in addition to training that allows them to learn to have a response-adaptation capacity. fast in unconventional or crisis scenarios, such as the one we are experiencing today. worldwide. In general, companies have avoided mass layoffs.

Learning: the strategy to overcome challenges and grow in the future

It is therefore clear that due to the pandemic, the area of ​​opportunity for a large number of companies (especially not digitized or with not very innovative production processes) continues to be the implementation of technological means that are available to them. make it possible to meet the requirements of the current crisis, both in terms of infrastructure and human capital. In this sense, the training of work teams by digital means is a need that companies did not consider essential before the coronavirus, and which has become a priority to increase their capacity for adaptation and resilience.

For this, there are initiatives such as hackU, a Colombian startup that offers companies online training for their workers and collaborators. The service consists of using WhatsApp as a training channel, sending educational microcapsules with a maximum duration of 15 minutes.

Once the user receives the content, he is accompanied by an educational coach. At the end of each study module, the same user can measure the knowledge acquired through a learning assessment.

This confirms that, in the wake of the pandemic, the demand for ultra-accelerated response processes has led the business sector to increase its learning capacity to deploy effective solutions that help to emerge from the crisis and ensure growth. future. In addition, the uncertainty about the real consequences of the pandemic at the social and economic level, continues to push companies to broaden their areas of expertise to strengthen themselves internally and also to project themselves safely towards what the post-scenario. covid can bring.

There is no doubt that the capacities to adapt, learn, innovate and revive are emerging as the backbone of business survival during and after the pandemic. Companies that embrace and reinforce these qualities will be able to meet the challenges of economic recovery with greater ease and leadership.

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