The dipstick survey by Coeus Age clearly highlights the business impact of COVID19/ Corona outbreak.
For long, we have talked about managing risk, embracing chaos and becoming agile. The time to walk the talk has come now. The outbreak and other events seem to be testing our resilience, invoking the risk mitigation plans and making practices like working from home a dire necessity.
The challenge is real and probably the better prepared ones will survive. Many will face a severe existential crisis. The business impact of COVID19/ Corona outbreak is clearly perceived to be high.
It is very clear – amid the challenge, important lessons are to be learnt and preparations need to be made for the disruption to continuously remain as an inseparable part of doing business.
Key highlights of the survey:
-60% of business organizations feel the heat as customers are postponing their decisions to spend, the value chain is being disrupted negatively or the outlook appears bleak.
– 76% of them are acting by creating awareness, providing with necessary resources, giving advisories or even keeping a vigil on employees’ health. Business organizations are taking the outbreak seriously and not leaving it just to the government.
Nothing is a drill now!