Creating a Resilient Business Model during a Pandemic

Since the Covid-19 pandemic, many have begun to consider the impact of this situation on the company's operational activities. Starting from access to delivery of goods, product releases, employee welfare, and company business continuity.

Company executives are responsible for the management, implementation, and use of technology and information processes. Its role is very important in minimizing the impact of the pandemic on the company.

To ensure that your company's business can still operate and continue during the pandemic, you must create the best possible business model resilience. Here are five steps to ensure business resilience during the pandemic.

1. Pay attention to the latest business models

Look back at the company's foundations when running a business. Value things like the company's proposition, capabilities, and financial model. See the main target market, market needs for the products you have, to the partners needed to distribute the products.

The series of activities is important to influence the business model that will be used. In addition, a company executive must also be able to communicate with employees.

2. Identify uncertainty

After looking at the business foundation, gather representatives from each department. This is necessary to identify potential disruptions arising from the pandemic situation. For example, for a business that has a physical store, there will be restrictions on in-person visitors.

Therefore, this identification is needed to find out what is needed and can be done by the company. Not only that, communication between executives and employees will ensure that employees can understand and support business objectives.

3. Assess impact

Business impact analysis within a specific framework. You can start by developing the possible impacts. Develop a time frame for what is likely to happen, then break it down and define the impact cycle. Determine the scale of influence this could have on the company, and identify long-term dependencies with current risks.

Consider each solution and assess the likelihood that it will follow. Each department can closely observe what has happened and adapt to the company's possible solutions.

4. Plan changes

Consider what needs and can be changed. Identify each potential solution and evaluate it. You can identify whether the IT and software owned by the company can support the solutions offered.

For example, during a pandemic, the government issues regulations that force shops and other physical spaces to close so that customers cannot come to the store, this will have a high impact on small and large business entities.

One thing you can do is move your business online. This may seem like a big challenge, but you have to do it because it is one of the ways you can improve service and maintain your business during a pandemic.

5. Adapting to change

Ultimately the change decision will be made by the leadership of the company, but the phase from planning to change is very important. Once the plan is made, focus on implementing it. Ensure that business unit leaders are aware of the changes and get final approval. Create a blueprint that can help implement the current and future business models.

It is important to remember that in running a business, a company must be able to analyze the situation and the issues around it. In short, the pandemic situation can be an impetus for companies to adapt to digital activities. This is even a challenge for employees to continue to develop their potential.

Company executives also have an important role in being able to make changes carefully. Through the Strategic Business Analysis program, prasmul eli designed a program for executives to remain able to adapt in the midst of the high wave of information. When making changes, businesses will also recover faster from existing challenges.