Coronavirus has caused businesses and entire sectors across the world to grind to a halt, wreaking global havoc across an extended time frame.
During these times, bosses could benefit from the wisdom of some of history’s greatest thinkers.
In one of his most famous sayings, Chinese military strategist Sun Tzu stated: “Know your enemy and yourself, and you will win every battle fought.” Darwin meanwhile theorised from his observations of nature that: “It is not the strongest species that survive, nor the most intelligent, but the ones most responsive to change.”
But how do ‘knowing’ and ‘adapting’ help us be more resilient in weathering this and any future crises?
1. Adopt the right mindset to see opportunity in crisis
Take this enforced downtime to spring-clean your business and upgrade your processes, people and technology to stay on the cutting edge. Attend virtual courses.
Consider branching into relevant areas that can support your current business model in such times. Planning and effecting the above will help with staying positive, which will develop stronger resilience while also doing something tangible.
2. Keep a healthy routine
Many people may be required to work from home, perhaps with some pay reduction as the economy shrinks. In addition to work, plan and keep to a routine that helps you maintain a healthy mind, body and spirit while allowing some (virtual) social contact with your networks both inside and outside your industry.
3. Stay informed
Be aware of the support offered by the government and your trade body. Take it if it will support your business and staff.
Plan for the future, to be ready for the upswing. Invest in or at least research improvements in processes and technology that ensure you’ll be in a better place to operate in the post coronavirus world. Stay in close touch with your suppliers to ensure your support network is aligned with your future plans.
By providing assurances that your industry is united in its efforts to effect best practices that can minimise contagion, we are more likely to be allowed to return more quickly to business, with the beneficial side-effect of elevating the professionalism and perception of your industry.
Coronavirus is not the first and shall not be the last major hurdle the business world faces. Developing greater resilience and being prepared shall be key to future success.
Daniel Chua is the chief executive at Aonia, a Singapore-based events agency. This article was first published by our sister title C&IT.
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