Question

What are some of the external “opportunities” and “threats” to organizations that can be associated with the COVID-19? (state at least three (3) each

Answer 1

Opportunities to organizations associated with the COVID-19:

1. Organizations have wide opportunities in the usage of technology that enables the employees to interact with others effectively. For example, Educational institutions have started implementing online lectures and online examinations through Artificial intelligence that restricts them for copying in the examination.
2. Organizations have an opportunity in reducing the costs involved while working in an office setup. IT industries have adopted ‘work from home’ as it has a high potential in reducing electricity costs, transportation costs, and other related costs. Working from home also enables in adapting a flexible time to enable work-life balance.
3. Organizations have an opportunity to focus on delivering the products or service that supports in overcoming or managing with the pandemic at least until it ends. As people are aware of maintaining social distancing and personal hygiene, the business can modify their products based on the need. For example, the Textile industry started to market face masks that match with the apparel to attract customers who want to avoid the traditional and out of fashion face masks. Many businesses have also enabled home delivery so that customers do not need to come to the shop to purchase a product.

Threats to organizations associated with the COVID-19:

1. As the COVID-19 pandemic pushed the governments to announce lockdowns all of a sudden, the was not enough time left in training the employees related to the technology they will use to continue their business during the lockdown. This results in an ineffective usage of the human resource who might have exhibited a positive work behavior during the pandemic. Hence organizations need to hire candidates people who are well versed in using the computer and the internet along with the main requirements of the job. For example, Sales executives who are talented in a face to face marketing may not be much effective if they need to convince the customers through phone or email.
2. Due to the social distancing factor, organizations cannot utilize the maximum employees that may affect the productivity of the organization. For example, the manufacturing and production industries need the full set of employees to avoid the idle time of machines. COVID-19 has pushed most of the industries to work with half of the employees on a shift basis in case of a lack of workspace. Hence either the company has to look for an extension or it should reduce its production due to low manpower.
3. As most of the work involved has been transferred to cloud storage due to the implementation of work from home in most organizations especially the IT industries. The threat of cyber attacks is more that may result in a loss of confidential information. More conversation through email and other social media chat services may result in a loss or sharing of information to unauthorized persons which has high potential to cause financial stress for the organization.