Top 5 Lessons Learned by Businesses in 2020

As this unforgettable year comes to an end, We’ve learned a lot this year. Businesses had to deal with numerous challenges brought on by lockdowns, health concerns and remote working. We have seen businesses shift focus or completely rethink their business model. Although it’s been a challenge to do business in such a situation, if we look on the bright side, the pandemic forced the business to be more adaptive and stronger

As Albert Einstein said, “amid every crisis, lies great opportunity.”, and it’s important to not let go of an opportunity. At the very least, you want to make smarter decisions that will benefit your future.

Below are some of the lessons learned by the business during the pandemic

Health care and wellness

A pandemic can bring different kinds of feeling. Constant high-level stress can damage your mental and physical health. Keeping your mind and body healthy is very important at all times. Having good thoughts and simple regular exercise is required for everyone. Most of the companies realized the importance of wellness of the employees and how the absence of it can impact in their work and personal life. Mental and physical health is often a secondary thought in the workplace. Companies have set new standards to support their employees’ health in and out of the office.

People are the Priority

For businesses, governments and individuals, the Covid-19 crisis, especially the lockdown and their effects on enterprises, has been a wakeup call. It has changed our perception and way of working and living. It has given companies the power to reinvent companies at the corporate level to form them more competitive, open and sustainable.

The pandemic has shown that a company’s priorities should be on its employees, customers and community. Listening to and supporting your employees during the pandemic time has been a priority for companies and it showed what they truly care.

Whether it’s a small, medium or large company irrespective of the size, the relationship with your customers, employees and suppliers are everything. Without these, a business has nothing to build on and cannot sustain.

Crisis Management

This year we all learned that crisis can come unexpectedly in any form. This is not the time to go dark, your customers want (and need) to hear from you now more than ever. How you handle such crisis can truly make or break your brand if you’re not prepared.  If your company did not have any type of backup plan in place for such situations it will be difficult for you to survive. a greater focus should be placed on identifying future threats and creating opportunities.

Reinvention

The organizations started investing in new technologies and inventions to provide excellent customer experience. Many companies are finding new ways to interact with customers online, find new market opportunities. This pandemic has forced companies to think out of the box and create new products and imagine new campaigns.

The coronavirus pandemic has revealed the strength and goodness of people, but it’s also exposed our vulnerabilities. This year have been a bumpy ride for many people: whether in business or employment. Covid-19 turned the world upside down and things will likely never be quite the same. Small and medium businesses have had to change the way they operate, and each week has presented them with new sets of challenges as they work to keep up with an unfamiliar landscape and shifting consumer behaviour. As entrepreneurs continue to adapt to this new reality, many have acquired additional knowledge and skills. There are plenty of lessons to be taken away from it all that will make the world a better place in the end. The biggest lesson is having respect for one another’s situations and a clearer picture on the things we value, like our health, our friends, and our families, and we can all be grateful for the irreplaceable things in our lives.

Technology

In this pandemic, companies have forced to make their employees work remotely. Technology played an important role in making the entire workforce to remote work in a short time. Business management software’s like ERP system helped owners to manage their business from wherever they are. The business has learned the importance of investing in the proper technology to keep business running virtually, through any scenario. Brainsphere’s team have been busy helping customers with the necessary support for their employees working from home.

Those business leaders who believe that they are going to return to “Business as Usual” are at an enormous disadvantage. COVID-19 will have permanent consequences on the longer term of each kind of company in every sort of industry. While many leaders speak about the long run, only a few do something truly effective about it. This can be an unfortunate truth even of enterprises with abundant capital. This is often thanks to a mixture of things, including a scarcity of imagination or not knowing where to start out the journey amid a litany of future issues that loom large.

Few wise leaders took this lull period as an opportunity to streamline and optimize their internal work processes and efficiency improvement. This includes automation processes and integrated systems like ERP that can be customized to suit their business.

BrainSphereIT is one of the leaders in the business process automation Software in Dubai, UAE and Middle east having 18 years of experience in various industry segments having 15000+ satisfied users and we offer free consultancy and having special offers for our solution for your organization. Please feel free to call us for free demo/further assistance in the journey of your organizations Digital Transformation/Process Automation.