Question

How to manage uncertainty emanating from the covid situation?

How do you propose to handle the crisis with products and services?

Answer 1

1) How to manage uncertainty emanating from the COVID situation?

Due to the sudden outbreak of the disease, there is much concern of uncertainties in companies all over the world due to its impact on their financial performance. They also have a concern for employee safety as well as their psychological well-being. One of the ways to manage the uncertainty that occurred from the COVID situation is to remove any financial concern and also prepare for the worse economic downturn. It is critical for employees to reduce their risk of infection so proper reviewing of sick leave policies may encourage them to stay indoors when they are ill. Above all, communicating openly is very important.

2) How do you propose to handle the crisis with products and services?

Customers can value the companies when they face a crisis as long as the communication is transparent. Companies are facing immediate effects due to the COVID issue and this is why they are generating low revenue of products and services. So, entrepreneurs need to adapt to a new set of rules so as to mitigate the risk of the slowdown caused by the disease.

Hope this helps :)