2020 has started with a lot of disruption for personal life & business as well. Starting with the Coronavirus & it’s rapid spread across the globe resulting in business disruption as well as requiring companies to come up with alternative means of engaging with clients, prospects & various stakeholders.
There have been other disruptors globally like Australian bushfires, protests in HK & India CAA protests, on the back of one of the biggest trade wars between US & China. All these have caused the economic engine to slow down faster than expected. These would be a precursor to a slowdown in growth with many predicting a global meltdown or a looming recession. In these uncertain times, here are a few take from me on what one can do to avoid the doom & gloom & stay positive.
For businesses: Don’t let this be a time that goes waste. The global disruptions will mean that changes in profitability/balance sheet (attributable to global economic scenario) are bound to happen. These would be out of control of a business. This would be a good time to reflect on the product/service changes which you may not have been able to manage in regular course of business. This also may be a good time to identify geographies/business lines which will sustain revenues & profits while keeping a sharp eye on areas for growth to capitalize on once the economic engine is up again.
For individuals: This may be a troubled time as people may be retrenched considering economic outlook or may not be in the most positive frame of mind. I think each one of us should work on the following points:
· Maintain personal hygiene & stay safe
· Stay sharp & focused on the task /job at hand
· Upskill & identify areas for improvement
A simple thing like opening up the drapes from your office window in the morning & letting the sunshine hit you can have a positive effect on your daily routine. Rather than being huddled in conference rooms with gloomy lighting do move out & explore the outdoors. Nature will provide the strength in times that we may need going forward.
There have been other disruptors globally like Australian bushfires, protests in HK & India CAA protests, on the back of one of the biggest trade wars between US & China. All these have caused the economic engine to slow down faster than expected. These would be a precursor to a slowdown in growth with many predicting a global meltdown or a looming recession. In these uncertain times, here are a few take from me on what one can do to avoid the doom & gloom & stay positive.
For businesses: Don’t let this be a time that goes waste. The global disruptions will mean that changes in profitability/balance sheet (attributable to global economic scenario) are bound to happen. These would be out of control of a business. This would be a good time to reflect on the product/service changes which you may not have been able to manage in regular course of business. This also may be a good time to identify geographies/business lines which will sustain revenues & profits while keeping a sharp eye on areas for growth to capitalize on once the economic engine is up again.
For individuals: This may be a troubled time as people may be retrenched considering economic outlook or may not be in the most positive frame of mind. I think each one of us should work on the following points:
· Maintain personal hygiene & stay safe
· Stay sharp & focused on the task /job at hand
· Upskill & identify areas for improvement
A simple thing like opening up the drapes from your office window in the morning & letting the sunshine hit you can have a positive effect on your daily routine. Rather than being huddled in conference rooms with gloomy lighting do move out & explore the outdoors. Nature will provide the strength in times that we may need going forward.
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