EXCPR™: HOW CHINESE COMPANIES OVERCAME THE CORONA

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.

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