This article was produced and published by Racia Yoong from Global Initiatives.
One of the best qualities that will serve many companies, particularly small businesses, right now is adaptability.
By adapting to the way things are, businesses are more likely to survive and thrive when it is all over. This event presents an opportunity for business growth – to think bigger about how we can amend our services and deliver information to people in an even more accessible way.
While the pressure is high on governments to enforce regulations to slow the spread of the virus and businesses are feeling the brunt during this closedown, the most important aspect to remember is that it does not have to break you or your business.
All humanity is not lost!
In fact, these difficult times have brought out the greatest strengths in humanity as we are noticing some of the incredible work, creativity, and resilience in the manufacturing sector around the globe.
If companies want the economy and supply chains to return to normal, they need to join the fight to beat the virus first.
In the UK, a consortium of manufacturing companies ramps up the ventilator production to help people with coronavirus-related breathing difficulties, to stay alive.
In the current state of emergency when there is an acute shortage of ventilators, tens of thousands are being produced, procured, and ordered from around the world.
Prime Minister Boris Johnson has urged technology and engineering firms to look into the feasibility of switching some production and scale-up under license to make these life-saving equipment.
This shift has started to occur more rapidly, with auto manufacturers General Motors and Tesla having commenced work on the production of these devices.
Pulling out all the stops to save lives
Further, the technology company Dyson has designed and built a working prototype of the ventilator from scratch which they are hopeful will be used in other countries. Manufacturers Airbus, Meggit, GKN ramp up the production to make ventilator components with existing equipment.
Normally, these processes take months or even years, but these are extraordinary times, calling upon companies to take extraordinary innovative action.
Auto manufacturers aren’t the only ones who joined the “war” to beat the virus.
Medical device company Johnson & Johnson has donated one million masks, as well as goggles, protective suits, thermometers, and respirators to hospitals and medical workers in affected areas in China. Some apparel companies are retrofitting some of its factories to manufacture cotton masks to help relief efforts.
With the world on lockdown, there is a lot of adaptation going on as we alter our lives and businesses.
Together, we can overcome
All over the world, companies are innovating, transforming their operations while supporting the fight against the pandemic.
This provides not only hope for recovery but it also points to the potential for more permanent solutions as we emerge from the current situation.
The nature of global events creates the ultimate antidote to economic growth and employment, but businesses play a critical role in restoring the resilience of communities and bringing out the greatest strengths in their people.
After the crisis has passed, we expect that businesses will return to a new normal. But for now, everyone has a shared responsibility to build a stronger, more resilient community on the other side.