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"Pandemic and Beyond: Naviga ng the New Normal" E - Book Year 2020

projects on hold. However, the cloud does have a silver lining. A respondent from the
insurance sector notes that while overall business has reduced, health insurance
business has gone up. Market research rms are undertaking more research projects
related to COVID-19. A company with a strong presence in eld sales is shifting tracks to
online and tele-calling. There could be spurt in some markets such as used car sales. It
appears that companies are trying to adapt themselves to the new realities.
Companies are struggling to recover xed costs in the absence of revenue generation due
to sharp drop in sales. The reduction in costs is more by default than design, owing to the
changed circumstances of the pandemic. Increase in costs are due to enablement of
digital platforms, increased freight and cartage costs and increased costs of raw
materials.

Focusing on existing customers and building collaborative relationships is the new
normal. Virtual modes of communication seem inadequate to generate new business. It
seems that businesses require at least one face to face interaction to build trust and
commitment. Organisations are increasingly nding it difcult to stay in touch with
customers. The challenge is not just in terms of migrating to the virtual medium but also
changing the content of communication. Going forward boundaries between “real” and
“virtual” could get blurred.
Businesses and their stakeholders must face up to some harsh realities and prepare for
them. Operations and supply chain managers must prepare for possible increase in the
cost of raw materials and think of new distribution models. More-over they must prepare
for collaborative relationships with suppliers and distributors. Marketing managers
must think creatively to get the biggest bang for every rupee spent and also to identify
new customer segments. Human resource managers must brace themselves for lay-offs
and prepare the workforce for remote working.
It appears that consumer sentiment will see an uptick only post Diwali.

References
Tew P J , et al (2008), “ SARS: Lessons in strategic planning for hoteliers and destination
marketers”, International Journal of Contemporary Hospitality Management.
Day, Brennan, et al (2004), “ It will happen again What SARS taught businesses about
crisis management” , Management Decision.

Coronavirus and Supply Chain Disruption: What Firms Can Learn
https://knowledge.wharton.upenn.edu/article/veeraraghavan-supply-chain;
accessed on 26/04/2020.
Coronavirus impact: Show halts for event management companies - Re...
https://www.rediff.com/business/report/; accessed on 23/04/2020
Bryman Alan, Bell Emma (2008), Business Research Methods, Second Edition, Oxford
University Press.
“The Human Experience: How organisations should respond to the experience
implications of COVID-19”, Accenture 2020. ccenture020

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