HOW CHINESE COMPANIES
OVERCAME THE CORONA
Seven steps helps to
avoid crisis
Although the emergence
of the Corona started in China on Dec. 2019, in which more than 59% of global
cases have been reported, it has been able to treat more than 72% of these
cases and overcome the crisis that has emerged in its trading states over a record
period of time, Which in addition to its balance is its ability to dominate the
countries of the world in the future.
China has been able to
turn that health ordeal into a political economic grant, thanks to its good
management of the situation, which has become the focus of international
companies' attention to the standard procedures they have taken, towards
exporting them to the rest of the world's companies. HBS highlighted this
theme, which in turn was compiled by EXCPR Co., as well as the rest of the
recently launched global economic data and analysis to see what the most
prominent of these steps are. Precautionary measures implemented by Chinese
companies and work through them, to reduce the spread of this epidemic virus,
thereby restarting their production lines during record periods.
REORIENTING
SOURCES
In times of crisis,
changes are rapidly accelerated, which does not give room for deep reflection
or reluctance to make decisions, which calls for the CEOs to work on sites, in
order to quickly understand and take the necessary corrective actions in a
momentary manner. In China, companies that were the fastest recovering from the
Corona crisis were looking forward the future. Through daily monitoring of its
market developments, it has shifted its sources of production to a level of
priority, but where they are needed. Its good forecast of market demand has
been driven by the shift of business strategies from retail to
internet-connected e-commerce to keep pace with this external power of the
Corona.
CRISIS MANAGEMENT
Chinese companies in
the face of Corona was to redesign their internal regulatory structure to mimic
the direction of all human efforts towards meeting needs. It took a quick
response with the team to reap more positive results in record times,
culminating in the creation of a decentralized leadership that understood the
work in its different vertical directions. During the crisis, the company's
emergency team met daily to review procedures and make decisions for employees to
direct work and rationalize spending. The role of applications also has an
impact on the speed of rapid and timely transfer of information and data to the
rest of the team. China has thus benefited from the assets of applications and
employed it to manage the crisis it has faced.
PROTECTING EMPLOYEES
The third axis on
which companies in the China relied during the corona virus outbreak is the
element of clarity with employees and the safety necessary for them and their
families. As is well known, in times of crisis, the speed of the flow of
information is very high, supported by some untrue news that necessitated the
creation of a single platform for receiving such news. This was already present
in China's crisis, which has built a unified source of information and
coordinated data to achieve the functional security of the task force towards
preparing for production. This source has also been relied upon to guide
operational procedures very specifically to team members. On a related point,
these companies were also interested in the internal composition of the Chinese
employee, which depended on maintaining the employee's family and meeting their
basic needs, which contributed to the achievement of common interest, thereby
increasing the production capacity.
FLEXIBILITY IN DEALING
As the Chinese market
was in a clear recession during the Corona crisis period, particularly in the
hotel and restaurant sectors, joint cooperation with other business sectors has
been dealt with in order to achieve job security to meet the needs. Company
employees have been redistributed either for other activities and roles needed
by the company, or even to lend the employee to other businesses that need
additional human resources to cope with the crisis. The Chinese experience has
adopted the principle of mutual cooperation and interdependence with
flexibility in dealing with employees and companies, which has contributed to
increased productivity and job security.
TRANSFORMING
SALES
Some companies in
China have been forced to close their various stores, thanks to lower sales
volumes due to the outbreak of the virus. This has made many of these companies
bet on rearranging their sales channels and switching from retail to online
business. Such a strategy has been relied upon and accepted by the market in
China, which culminated in an increase in sales volume thanks to that
strategy.
SOCIAL MEDIA
It seems that the
common factor in business success in times of crisis was the presence of the
Internet and modern technology, which proved to be the appropriate solution to
crises that are experiencing or may suffer from the markets in the future.
Through the Corona crisis, Chinese companies have been able to activate the
role of their various social media platforms in coordinating and communicating
with their employees significantly, which has increased the extent of their
common cohesion.
POST CORONA
These steps and
strategies during the crisis have culminated in china's post-Corona market
being stimulated. The Chinese people are looking forward to the full end of the
crisis, eagerly returning to supplying global markets as before, which will
undoubtedly increase the share of Chinese products in global markets. The
preliminary economic results also indicate the end of the recession, which was
at the end of 2019, which shows the continued growth of other labor sectors in
China, culminating in cases of corona virus recovery.
Finally, the return of the global economic movement to
its former state is linked to the ability of the countries of the world to
confront the health side of the case of the Corona. As we saw in this report
that factories in China will soon return to their former state, which will
increase the demand for the source of oil again, and will also be associated
with the ability of western countries to overcome this economic war which
originated in the far east and its waves continue to hit the shores of western
countries.
t.me/ExcprCo
Business
sustainability
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