COVID-19 has impacted everyone across the United States in some way. Businesses across the nation have been experiencing a change of pace, going one of two ways; either business is picking up or business is slowing down. A crisis, like the outbreak of the Coronavirus, pushes business to evolve and adapt to the external changes they are experiencing. Since the spread of Coronavirus has impacted large countries around the world, businesses across the world have been forced to make changes in their everyday business plan.
In a time of crisis there are five important things to remember and to keep in mind:
- Employee safety
- Overly communicate with employees and clients
- Lead with strong directives
- Maintain a regular schedule
Now that we are in a time of crisis, consumers are being forced to change their everyday needs. Businesses need to focus on the new needs of consumers and try to make their company’s product help consumers fulfill their needs in any way.
When it comes to being innovative during the time of a crisis, it’s important for businesses to understand that innovation should be driven from the heart, should have a purpose, should give a fresh new perspective for the company, should allow the company to continue to grow, and should give the public a sense of action. Businesses around the world have put on their thinking cap to create a way to keep their business alive throughout all of the business shutdowns. For example, breweries and distilleries have begun making hand sanitizers after realizing that they have the right machinery and supplies to do so. Other companies have helped contribute their resources which has ended with companies finding new drugs and medical devices. For example, an engineering company from Italy offered their 3-D printing machinery to be used to create valves that are used in ventilators; these ventilators are now helping save thousands of lives.
Despite the giant shock that the spread of COVID-19 has put on businesses; businesses that use this time to innovate their practices will only thrive in the long run. It is crucial that in a time like this the correct priorities are made in order to influence company growth.