The rapidly increasing coronavirus outbreak has led to a negative impact on businesses with quarantine and transportation restriction, in a bid to stop the spread. Workers and consumers are trapped in home, so many of businesses have to scale back, or even closed entirely, and it seems will last for months.
How could business prepare for the shock from the pandemic and limit the negative impact from the downturn? Here are 5 tips for your reference.
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Care for your employees
Communicate with employees to understand how they are being personally impacted by the virus and provide some help as could as possible to reassure them. Uniting as one and working together could be a key element to get over.
Keep informed
Create a management system for decision-making, focusing on data rather than emotions. That may comprise three levels: The immediate, namely people and the day-to-day business; the medium-term, such as cash conservation and potential lay-offs; and the long-term, like the possibility of major economic impact.
Keep out infection
Set up a protection system focusing on the hygiene and safety measures, preparing enough medical protection materials to safeguard your employees from getting infection. That could help to stop the virus from the outside of your workplace.
Push external communications
Take time to reassure all clients, suppliers and the general public that you are taking appropriate measures to fight the outbreak — and even contributing to a resolution. Social media can be a great platform for this, as well as a mean of sourcing ideas from customers.
Keep supply chains
Figure out whether your suppliers are still able to produce what you need and what the capacity they own. Then speak to them about what they can really provide for you, but being aware of that they may be over-promised. If the capacities of your suppliers are not enough for your business, sourcing new supplier by internet can be a convenient and infection-free way for you.
By the way, if you are doing business of furnishing and building materials, BuildMost could serve for you.
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