The Coronavirus pandemic presents one of the biggest challenges to the global economy in a generation.
Economic analysts say that COVID 19 could have a positive impact on global commerce and on the international markets.
While the chances for a huge global economic recession are very much expected, restarting the global economy will be no easy task.
Once the Storm of the coronavirus pandemic is over, the UAE businesses will have to creak into motion with heavy overhead costs for infection prevention or, may be emerging as leaner and more agile beasts that are better able to meet the needs of the customers.
The UAE business and enterprises, however, have a lesson to learn from the COVID 19 Coronavirus pandemic. Let's have a look into these proven possibilities that Covid19 pandemic has created.
Thanks to a swathe of remote working solutions currently we have on the market. Most of the UAE companies have come to an understanding that the job once told could not be done remotely, can, in fact, be done entirely remotely during a crisis.
While UAE industries were historically reticent to embrace work from home initiatives, there are plenty of research that suggest workers who are allowed to work from a remote location or home are actually better motivated, more content and even more productive.
Remote workers also end up putting in an additional 1.4 days of productive work time per month, which is equivalent to an additional 3 working weeks of productive time per year. So, working from home be a win-win for employers and employees alike?
Businesses analysts say that firms who learn lessons from the current market conditions will emerge as stronger and more agile businesses. These businesses will be better able to easily react to the bespoke demands of their client base.
This immediate responsiveness to positively react to any crisis without falling prey is measured more than recovery which will take some time. Therefore, the time is right for businesses to run scenarios to create a crisis agnostic plan that’s fit for your business.
Since a crisis like Covid19 Coronavirus have never happened in the world before, your business always needs a long term plan in a short time? Start formulating contingency plans that cater for the mid to long term prognosis.
Rather than devising specific contingency plans for COVID 19, your business needs to re-evaluate the business plans on a permanent basis, in order to safeguard against a resurgence of the pandemic or other unseen challenges in the months and years ahead.
In the face of any crisis, you require a well-trained team to substitute any work hindrance that may have occurred due to long-term lockdowns of business hours or operations.
Instead of struggling with an “analogue” approach to crisis management, using hard-copy documents and tabletop exercises to prepare for the next potential emergency is the need of the hour. Corporate training can unite a large and diverse organization by becoming a “centrepiece” of the employee experience.
Trained employees tend to have enhanced performance and productivity. By learning more about their jobs, they become more confident in doing them. This leads directly to more efficient work and increased customer satisfaction.
Therefore, it’s no wonder many companies are incorporating technology into their crisis management prep as often as possible.
If you want your business or company to be prepared for the foreseeable future, start looking for convenient remote working platforms that enable close collaboration between your employees and customers.
Voice over IP protocols, social engagement platforms and remote conferencing applications will all play a crucial role in facilitating remote working strategies.
The governments of the United Arab Emirates have now relaxed restrictions on VoIP services and other collaborative platforms.
This will ensure your businesses can stay connected and work productively for the foreseeable future. The government is also considering further measures to facilitate remote working and commerce.
While the epidemic has forced many businesses to close their operations, many enterprises can look forward to safeguarding your business against the enormous financial impact not only for now but for any future crisis. And, remote working can be formed as a central pillar for any of your business plans for the foreseeable future.
Edupreneur, Founder & Managing Director
Sharafudhin Mangalad is the managing director of a chain of educational institutions in the UAE. With more than 10 years of experience in the education industry, he successfully runs Edoxi Training Institute in Dubai and Time Training Center Abu Dhabi.
He is a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals. He always makes sure that his business continues to grow by identifying, developing and implementing the new strategies. He leads his team in alignment with the company's vision and values while preparing and implementing comprehensive business plans to facilitate achievement.