In: Accounting
what strategy should be followed in a crisis environment (post covid 19)?What are the strategies that can be applied?
Survival strategies should be followed in a crisis environment (post covid 19).
Survival strategies is a short term objective, probably at a time of crisis. so survival strategies should be followed
For this stratigies five points is to be taken care
1. KEEP CLOSE EYES ON CASH FLOW
2. CUT DOWN OVERHEAD
3. DO MARKETING WISELY
4. PREPARE SHORT TERM PLANS LIKE - Plans/Policies for 3Months/ 6 Months/ 9 Months....
5. PROTECT YOUR ASSETS
due to less revenue churn and the general uncertainty in the global financial environment., It is challenging for most businesses to keep their financial wheels turning during the lockdown period.
Do survive in this environment some more points should be used
1. Communicate transparently with your customers
2. Maintaining healthy relationship with contracted parties
3. Managing employees & related optimization
4. Keep Your Team connected with you
5. Communication to stakeholders