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There were very few who could have predicted the way the world would change in March 2020. The advent of the global COVID-19 pandemic threatened to be an economic sledgehammer as businesses worldwide were forced to close their doors indefinitely.
Faced with financial oblivion, business owners had a simple choice - adapt or perish. While not every business was able to survive the coronavirus tsunami, most companies did. Many businesses even thrived, but they had to change the way they operated to taste success in the face of COVID.
Here are some of the leading ways businesses have changed to combat the coronavirus and become successful in this strange new world.
Free and subsidised government training
In response to the COVID-19 pandemic, governments are offering a range of education and training to support individuals and small, medium and large businesses. Government-funded training includes free courses on how to prepare for an emergency or natural disaster as well as subsidised courses on how to manage your business during a crisis.
Many of these training courses enable individuals and business owners to upskill to prepare for further disruptions and become more agile for the changing world that COVID has created.
Having a robust digital presence has become essential
Businesses have a greater digital presence and are more accessible to consumers than ever before.
Digital transformation has become the key to success in today's business world. It's not just about technology; it's about how we use that technology to create better customer experiences and drive greater value for our customers. And it starts with understanding what your customers want and need from you.
Becoming a digital powerhouse involves having end-to-end solutions that include strategy, design, development, testing and deployment of digital products.
Successful businesses can identify opportunities for innovation in their industry or market segment so that they can create something truly unique.
More people are working remotely or from home
Working remotely from home was essential during lockdown periods, but it is becoming more and more popular even when there are no restrictions in place.
It's not just for people who work in tech, either. More and more industries are adopting remote work policies to help their employees balance life at home and life at the office.
Remote workers have many benefits over those who commute every day - they save time on commuting, can be productive during off-hours, and don't have to worry about finding childcare when they need it most.
Businesses have become forced to prepare for disruption
COVID-19 will not be the last disruption that industries face, and businesses of all sizes are now preparing for the next significant disruption that could lie around the corner.
In this era of uncertainty, how do you prepare your company to survive? How do you create an environment where innovation can thrive in times of change? What will it take to lead your organisation into the next decade with success on your side?
You can prepare for the disruptions ahead by making some small changes today - like focusing on customer service or adding new products - which will help keep your company afloat during a time of uncertainty.
Investing money wisely on new technology tools can also help reduce costs associated with human resources overhead by automating repetitive tasks like payroll processing while increasing productivity through automation.
Businesses Have Become More Agile
The world is changing, and so are how businesses operate. Gone are the days of long-term planning, budgeting for months ahead, or waiting to see what happens before making a decision.
Today's business leaders must be able to react quickly and intelligently to any given situation that arises.
Agile management is not just about reacting quickly - it also means being proactive in your approach to managing your company by adapting as you go along rather than sticking rigidly to a plan that may no longer work for you or your team members.
It's about taking risks and trying new things without fear of failure because when you fail, there will always be another opportunity right around the corner.