Question

What lessons can organisations / managers / others learn from the COVID-19 crisis? Explain with examples...

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

Homework Answers

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.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
By using any three principles or concepts from General Management, discuss in short paragraph how they...
By using any three principles or concepts from General Management, discuss in short paragraph how they can be related to the COVID-19 situation.
Do you think the ongoing Covid-19 can trigger a financial crisis? If yes, explain the mechanism...
Do you think the ongoing Covid-19 can trigger a financial crisis? If yes, explain the mechanism with which it will spread. If no, explain why. (100 words)
What are the main lessons learnt from diagnostic testing during the COVID-19 pandemic that could assist...
What are the main lessons learnt from diagnostic testing during the COVID-19 pandemic that could assist with future communicable diseases?
What lessons can other developed nations learn from the success of the Mittelstand?
What lessons can other developed nations learn from the success of the Mittelstand?
What are the lessons you can learn when you talk about Healthcare Information Management and Technology?
What are the lessons you can learn when you talk about Healthcare Information Management and Technology?
Assume that Covid-19 leads Brazil government financial/economic crisis Propose policies to be taken by the government...
Assume that Covid-19 leads Brazil government financial/economic crisis Propose policies to be taken by the government to help the country come out from the crisis. Please explain your recommendations using any models or theoretical frameworks learned in macroeconomics class. For example, you can explain your suggestion using money market, labour market, IS-LM model or AD-AS model.
What valuable lessons can the accounting community (incl. reporting entities and regulators), learn from the outcomes...
What valuable lessons can the accounting community (incl. reporting entities and regulators), learn from the outcomes of Enron Scandal (2001).( write 500 words )
During the current crises of Covid-19 pandemic, stock prices of most of the companies are falling...
During the current crises of Covid-19 pandemic, stock prices of most of the companies are falling in U.A.E but some stock prices are falling more than others. Explain using a theory/model discussed in this course why these stock prices are falling, also explain stocks of which sectors of the economy are being more affected, which are being less affected due to this Covid-19 pandemic. Is there any sector(s) that is benefiting from this crisis? Why are they benefiting?
What are the core functions of public health? Provide examples from the current COVID-19 pandemic.
What are the core functions of public health? Provide examples from the current COVID-19 pandemic.
Case: Covid-19 and Leadership Response The COVID-19 pandemic remains a health and humanitarian crisis, but the...
Case: Covid-19 and Leadership Response The COVID-19 pandemic remains a health and humanitarian crisis, but the business impact on organizations is now profound. As governments make significant interventions in response to the coronavirus, businesses are rapidly adjusting to the changing needs of their people, their customers and suppliers, while navigating the financial and operational challenges. With every industry, function and geography affected, the amount of potential change to think through can be daunting. The greatest immediate impact of the COVID-19...