Page 9 - IMDR EBOOK 20 OCT 2020

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

The researcher further nds that -

• 32% respondents agree and 55% strongly agree that business survival will
depend on offering creative, viable, affordable alternatives to customers

• 43% respondents agree and 39% strongly agree that business will seek alliances
for access to new markets and competencies

• 44% respondents agree and 25% strongly agree that businesses will improve
operations and position for growth

This is presented in the graph and the table Figure 7 –
Figure 7 – Respondent Sentiment on Business Strategy (II)

Business survival
will depend on Business will seek Businesses will
offering creative, alliances for access improve operations
Rating Points viable, affordable to new markets and and position for
alternatives to competencies - growth -
customers - frequency frequency
frequency
1(Strongly Disagree) 0 1 0
2 (Disagree) 1 2 7
3 (Uncertain) 11 16 23

4 (Agree) 32 43 44
5 (Strongly Agree) 55 39 25
Grand Total 277 277 277

Keeping the revenue streams owing amidst lockdown is a serious challenge for
business irrespective of size and age. The normalization process post lockdown is also
anticipated to be a slow and tedious journey. The above insights from the respondents
indicate strategies for business survival and growth in the aftermath of COVID19.
Strong indications have been given by respondents towards the likelihood of job losses
as an aftermath of COVID19. This is supported by the respondents pointing towards
realignment of business processes and strategy to adapt to the evolving business
environment. In this context the researcher attempted to know whether recessionary
economic situation perceived as an aftermath of COVID19, offer entrepreneurial
prospects. Do the respondents nd that the current situation is a fertile ground for
discovering new business opportunities and startups? The researcher nds that 43%
respondents agree, and 34% strongly agree that it does.
There may be a variety of reasons that motivate individuals to become entrepreneurs.
This researcher attempts to explore whether the aftermath of COVID19 is viewed as

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