From the turn of events, learning from the previous epidemics like Ebola and SARS, most of the governments and corporations were not prepared to face a disruption of such a scale. The anticipation of such an epidemic to get out of hand was not there leaving China to struggle with it alone for several months. It is a unique situation of unplanned occurrences since the dynamics involve factors above any one country or corporation. Whereas one could have internal controls and measures most of the business disruptions may occur due to disruption of the supply chain and the market where the demand for the products decreases temporarily.
In light of the Novel Corona-Virus Pandemic, the future of most business functions continues to be uncertain. Corporate leaders are considering key issues around managing severe business shocks, recovery plans as well as keeping essential functions of the organization alive, majorly based on perspective.
Following the outbreak of COVID-19 and the subsequent declaration of the virus as a global pandemic by WHO, the world economy has been greatly affected and the Kenyan economy has not been exempted. The pandemic has had adverse effects on millions of Kenyans, which among other things includes loss of income, imminent job losses, indefinite […]
As COVID-19 continues to wreak havoc in our normal lives, from global, regional to local businesses, it is imperative that businesses have to rethink survival in order to navigate through the challenging times.
We wish to recommend some advice on how small businesses may remain afloat by being proactive towards the eminent dangers caused by COVID-19. This professional advice is general in nature and may not necessarily apply to all businesses but will be important to activate strategic thinking and business leadership in this crisis.