The Managerial Implications of the COVID-19 Pandemic - Essay Sample

The government from the countries affected by the virus is trying all that they can to contain the virus, forcing them into some measures that are a threat to the economy of the country. Most countries have to risk the only vulnerable assets that are remaining in the country in addition to selloff; however, the outbreak is still on the increase bringing with it more confusion on how most states will contain the virus (Gates 10). The pandemic has increased the demand for medical products such as masks and the testing kits that are used to help contain the virus.

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Companies like Nike that produces the sports wears and depends on China for its productions are much affected and fear for the worst due to the disruption in the chain supply. Starbucks have closed almost half of its stores in China due to the spread of the virus, companies like Apple are now looking for alternatives suppliers on how they can make up for the losses on the production department, and it remains a serious problem to most of the companies because it is unclear to when the pandemic will end

While most people around the world are still quarantined, and the number of cases being affected daily is increasing and the vaccine not yet found, the world is expected to experience more pain in its economy. Most of the trade shows and business conferences are canceling their events around the world because of the spread of the virus at high speed, The Inspired Home Show in Chicago has canceled almost all of their events that were to happen this year, the show attracts approximately over 60000 attendees across the world. Many business people are canceling their travel to the parts of the world to conduct their usual business. Their business is now at stand due to the virus, and nobody has any idea when the pandemic will end, most of the vacationers have rescheduled their trips; as a result, most of the airline companies from different countries like the US have canceled 10% of their domestic flights and 20% of their international flights to stop the spread of the virus. Some countries like England and Italy are on total lockdown, and no activities are taking place in the countries and citizens encourage them to stay indoors to limit the spread of the virus.

Several measures have been taken to help contain the spread of the virus; people have been encouraged to practice social distance, stay at home with these measures that have affected most business in the world however all is not lost, but this is the time to embrace work from home policy to help limit the spread of the virus (Chesbrough 7). This is not the time for companies to stop paying their employees. However, it is tough times; companies should advise their employees to work from home if it is possible and submit their reports daily for evaluation from their management teams. Supervision may be done from the daily re3port submitted by the employees, and the feedback is given immediately by the employers (Chesbrough 7). The companies should reward excellent performances from the employees; for example, when the employee delivers excellent work, maybe the next day, he/she can work for fewer hours because working from home is a challenge with all the family members present, including children.

The nurses who are working day and night and risking their lives to treat those who have tested positive for the virus should be motivated from all the dimensions for the excellent work they are doing in their countries. The hospital management should make sure they are all times protected from the virus. At the same time, they handle the patients, pay their allowances and salaries in time, and even to some extent to increase the allowances they get per month and the management to always acknowledge their efforts during these hard times facing different countries across the world. The security personnel who are on the check to make sure that all the government directives are implemented to help contain the virus also should not be left out and at all times should be motivated and their performance evaluated to make sure that they do not harass the citizens.

It is the right time now for most of the companies to start investing in ICT projects, ensuring that all their operations are online and making it not a must for one to report in the office, for example, the video conferences carried out in the boardroom has been successful in this hard times where still people can have meeting without physically reporting to the meeting venue (Gates 10). Companies should make their operations online to make it easy for people to work from different parts of the world and submit their report, working from home is the only solution for now different organization to encourage their employees to work from home and submit their daily, weekly or monthly report to the performance evaluation. To help in such a situation that might happen in the future, businesses train their employees on how to work online and deliver quality services to the customers.

It is tough times now, but still, we have to restore the economy of the world, all the possible should be done to bring the economy back to where it was before the pandemic. Most businesses have realized that it is the appropriate time to invest in online operations that will enable customers to receive the services even in hard times like the one we are experiencing now.

Works Cited

Chesbrough, Henry. "To recover faster from COVID-19, open up: Managerial implications from an open innovation perspective." Industrial Marketing Management (2020).

Gates, Bill. "Responding to COVID-19-a once-in-a-century pandemic?" New England Journal of Medicine (2020).