Key lessons businesses can learn from the Covid-19 crisis

The crisis is not over yet but it has already underlined the importance of resilience, resourcefulness and preparedness for businesses

Companies that had already adopted an e-commerce model for their business were ready for the pandemic. Getty Images

We keep hearing how our lives will be altered after the coronavirus-inflicted crisis ends. Travel experts are predicting how people will opt for staycations and remote destinations and how it will take us a while before going back to our travel patterns of the past.

Even though we may feel like nothing is moving on, there are so many shifts taking place around us. Scientists are utilising artificial intelligence to combat Covid-19 and education institutions are considering distant learning as a model for the long-run and government institutions across the country are moving in to support smaller businesses and start-ups challenged by the pandemic.

This is not the first time this region has endured a crisis. Throughout history, our ancestors have faced famines, droughts, wars and other pandemics. Just imagine how incredibly difficult it must have been for them to go back to their normal routines once they came out of those life-altering events. We will also look back at this crisis for years to come as we slowly stumble back to out old routines. We will remember the time when a virus shut down almost every country and devastated pretty much every economy in the world in just a matter of a few months.

Though the crisis is not yet behind us, and I’m sure that our perceptions of the world and how businesses should operate will change further, there are key lessons for us to keep in mind.

You have to act fast 

To move your business amid a pandemic, you need to work quickly. When faced by a challenge, you could either take your sweet time or you move fast and take necessary precautions to avoid a disaster. Countries that were swift in their response when it came to Covid-19, and embraced new technology, enforced lockdowns and prepared for the worst-case scenario, were able to contain the situation faster. It certainly helped in saving more lives and prevented their healthcare systems from buckling under the pandemic pressure.

Be prepared

A few years back, I remember discussing with a client the importance of having an e-commerce website for their retail brand. His response was “if it wasn’t broken, why fix it”. My client preferred to utilise his extra budget to open new stores for his retail brand.

He has yet to set up an e-commerce store and a few days ago he told me how he regretted not doing so and how he would have saved so much money had he embraced the digital future.

Be resilient

If there is one thing that our ancestors taught us, it is to be resilient and resourceful. Always look for the silver lining in a desperate situation, and look for a way to work with it. My grandmother always advised me to be resilient and not resist a challenge when faced with it. Resistance would work against me, she warned.

Be resourceful 

It is also important to make the most of what you have. If you cannot have the conference you planned, do not cancel it, but move it online. The date palm was an importance source of nutrition for our ancestors and many in the past survived on dates and water for long periods of times. They made the most of that tree even using fronds and bark as building and construction materials.

You should be as resourceful in your business as our ancestors were with the date palm. If your business is already online, how could you utilise your presence to generate profit? Could you organise webinars? Could you join other brands and collaborate on a product or a service?

Cooperation is key

In combating Covid-19, co-operation between different government entities, leaders and private and public sector organisations is essential to ensure the safety of the community members. When your business is facing a challenge you have a better chance of coming up with a solution when you work together with your team and relevant organisations. Where relevant, your customers could be part of the solution and provide you with the option that is more appealing to them. A simple survey on social media can provide you with the answer you need from them.

The crisis provides us with important lessons that will help us navigate future challenges.

Manar Al Hinai is an award-winning Emirati journalist and entrepreneur, who manages her marketing and communications company in Abu Dhabi