Question

What are the possible business implications companies can take to prepare for the next wave of pandemics like COVID?  

Answer 1

ANS

The Covid -19 pandemic has made many business to suffer losses and the worsen situation has arise when many business had to shut down due to prolonged loss.The business should take some implications so that when the next pandemic arise then the business should be prepared to eleminate or to minimize the losses  The implications or actions that companies can take to prepare for the next wave of pandemic are that the business should have savings , it was seen in the pandemic that many firms had to do layoffs and minimize scale of operations but if they would have sufficient amount of savings and which would support the operations of the firm for the time of the pandemic and the firms would have the liquid assets to support the functioning and avoid shutdowns. The other implication or acrtion that the firms should take are that the firms should adopt the online media for their operations, in the pandemic we saw that the business which were run online had an advantage over the traditional ones, so the digital functioning would help the companies to minimize losses in the pandemic.