Question

What lessons can organisations / managers / others learn from the COVID-19 crisis? Explain with examples by relating any principles or concepts from General Management.

Answer 1

The organizations saw a great deal of loss of working days and time for working hours due to the COVID 19 crisis. The demands and the supply have been halted which has given the businesses across the globe a tough time which gives the need for contingency management for the businesses for such times which gives no prior notice to manage the processes.

Contingency management is general business management is a concept that suites such situations the best which no businesses would have planned for and have done it for the best of the people. The emergency or contingency are those aspects that have made the business plan or keep such options in mind to ensure that the business is done well with plans and those in absence of it as well. The business supply and production lines are halted as in the case of the construction Company L&T globally. The sites under construction have lost its progress where the people working, to supply and the project has been halted for the time of this pandemic. The businesses had to leave the job as it was going to make sure the chain of spread is stopped and controlled. This brought the emergency as applied by the government of the nations across various economies pan-global. Hence such a situation was not in the plan of things which makes the contingency management to be best suited to do the needful by controlling the movement of all aspects in the business till it is cleared by the government to be safe to restart.

Hence the lessons learned were to be ready for all kinds of contingency and make the plans further as and when the situation is under control or is well prepared to exploit.