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How Companies Can Respond to the Coronavirus

COVID-19 continues to spread rapidly around the world. Almost every country has reported cases, but the burden is asymmetrically distributed. During the period from April 6th – 12th 46 percent of new confirmed cases have been reported in Europe and 39 percent in the United States. To an extent, that’s because countries are at different stages of the pandemic. Some that were effective at initial containment, such as Singapore and Hong Kong, have seen resurgence and are implementing additional measures to address it. Others, such as many countries in Western Europe, have seen the number of new cases plateau or begin to decline and are debating the right approach to reopening their economies. Some countries appear to be at the peak of infection and are urgently building surge capacity in their health systems. In other parts of the world, the number of cases are rising rapidly. Countries such as Russia and Turkey are seeing a recent acceleration. India too has experienced a significant increase in the number of cases since the beginning of April and has evolved its response strategy, including extending the nationwide lockdown. So here are some ways in which businesses can address this situation.

Develop the infrastructure you need for remote working

If you are not already doing so, allow your employees to telecommute. Companies that allow for remote work, right now, will have the necessary tacit knowledge, planning, and infrastructure in place to quickly transition more operations if that becomes necessary. Train your leaders. Data shows that employees’ biggest complaints about remote work are about managers who lack respect for normal working hours. Leaders need sensible rules about when they expect workers to be available, and when they don’t. Identify employees who are most crucial to maintaining business continuity. Do they have the tools to work effectively from home if they have to? Ensure that they are prepared. Develop a disaster scenario that incorporates telecommuting. How would your organisation operate if there was a quarantine that shut down geographic areas where you operate? Use techniques from scenario planning to generate ideas about how your company could pull together the capacity to resume operations in even a limited form.

Expect operational shocks and mishaps

You need to have at least one to three months’ worth of cash in hand. This will be needed for you to cover your immediate expenses like salary and any debt payments that need to be made. Don’t always rely on credit for such matters. Know what your options are for extending loans, terms, and other short-term obligations. Look this over now. Banks care that they can recoup the principal amount of the loan, and in the midst of a crisis, borrowing more or changing the loan’s conditions is difficult. Some governments have relief programs or provide other forms of targeted assistance. Look into what is available for you. Have an adequate buffer stock of crucial parts and other inputs on hand. We all know that the global supply chains are taking a massive hit and if you have not done this already make sure that you contact and keep to hand, other suppliers from countries who are less impacted by the pandemic so that your supply will happen at least relatively well. Developing supply chain resilience is a best practice in any condition. On the same note, try and find out how prepared suppliers are for such an unprecedented situation. The more knowledge you can gain in the early phases of this outbreak, the better prepared you can be if and when circumstances shift. Understanding how to run a business and respond to situations that are not expected is something that can come through experience, but at the same time the right professional training can also go a long way on this. Here are some programmes offered by Study365 that can help you achieve the right level of skill and knowledge.

DIPLOMA IN BUSINESS ANALYSIS – LEVEL 3

Learn how to precisely identify business needs and determine solutions for it by enrolling in this Diploma in Business Analysis – Level 3 right now. This course in BA is filled with enriching content that will not just educate you the concepts of business analysis, but will also give you a hands-on knowledge on how to carry about effective BA activities within an organisation to greatly impress employers and to win the various benefits that comes with great productivity. This course has been designed to systematically take you from the fundamentals concepts of business analysis to the more intermediate topics and hence, is the perfect course for individuals aspiring to get into or make advancements within the BA industry. The course curriculum will also touch on the various sampling methods used within the industry to ensure you walk away with an unwavering knowledge on the subject. On the successful completion of this course, you will be qualified enough to work for a number of jobs in the business analysis industry. You can also use this certificate to further your academic activities or to demand for a higher pay or salary increment from your employer. Below given are some of the jobs this certificate will qualify you for, along with the average UK salary per annum according to https://www.payscale.com/career-path-planner,
  • Business Consultant – £38,142 per annum
  • Business Analyst – £30,631 per annum
  • Business Systems Analyst – £32,976 per annum

PRACTITIONER CERTIFICATE IN BUSINESS ANALYSIS

If you aspire or already work in this area, taking this BCS Practitioner course will set you on the path to becoming a qualified business analyst.  It is a widely recognised certification that will benefit you as you take on a role in business analysis and gain exciting opportunities to progress in your career.  The Practitioner course will discuss the role and responsibilities of a business analyst and the tasks that accompany such a prolific job role. You will learn how to avoid project failures, define project requirements and achieve a successful business outcome. This BCS Practitioner is perfect for anyone working in project management or business environment. It is highly advantageous to your career goals. The BCS Practitioner will explore key topics such as how to identify business functions and how to improve developments in certain areas. You will learn to recognise potential business objectives, evaluate your options to determine feasible business solutions and improve business efficiency. This is a professional certification and getting qualified in this course will help develop your skills and knowledge in the field. You will learn to demonstrate your understanding of how to support business change programmes successfully. The business analysis skills you acquire through this course will make you a competitive force in the industry. Listed below are job titles you can attain, along with the average UK salary per annum according to http://payscale.com/.
  • Business Analyst – £35,485 per annum
  • Business Consultant – £38,639 per annum
  • Business Change Analyst – £27,939 per annum
  • Financial Consultant – £40,434 per annum

CERTIFICATE IN BUSINESS ANALYSIS TRAINING

Effective business analysis requires both professional skills of investigation, analysis and modeling, and interpersonal skills for working with a range of people. This course will take you through a proven, structured process to improve your ability to collect, analyse and forecast business and financial data in order to generate valuable insights from business data. This course will also teach you how to report on business data and present information and analysis to clients and stakeholders. It is aimed particularly, but not exclusively, at financial and business analysts, managers, planners, customer-service staff, operations staff and information management personnel. Completing this course will allow you to become a:
  • Business Analyst / Systems Analyst
  • Financial Analyst
  • Business Manager
  • System Developer
  • Project Manager / Team Leader
  • Quality Assurance / Quality Control Manager
Interested? Then make the most of this tedious time and prepare yourself better for the challenges ahead. For more information contact us on [email protected]
April 17, 2020

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