Question

Under COVID-19 pandemic, the business world had almost come to a complete stop. Just a few weeks ago, JCPenny, Game Stop and several other retail stores had filed for bankruptcy. If you were the CEO of a traditional brick-and-mortar retail chain, what would you do to help your company survive this global crisis? Explain your solution in details.

Answer 1

It has become extremely difficult for many companies to survive in the current pandemic. If I were the CEO of a traditional brick and mortar retail chain, I would first try to implement a work from the home schedule as much s possible. While it may require an initial investment in the form of technological equipment, but I think the investment will pay off itself in the end.

Also, I would look at ways in which online delivery services can be used to attract consumers to purchase products from their homes and get it delivered at their doorstep. For this step, contactless delivery and utmost hygiene would be implemented as much as posisble.

Also, to attract consumers in purchasing products from the company, discounts or sales can be used to ensure that the customers buy products during the pandemic.