Get All Access for $5/mo

Four Areas Businesses Need To Focus On To Aid Their Recovery From The COVID-19 Crisis Having now weathered the roughest parts of the storm, this experience must contribute to an even stronger, more sustainable business strategy.

By Mohammad A. Baker Edited by Aby Sam Thomas

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Shutterstock

For many, the COVID-19 pandemic is arguably the most significant litmus test that we have faced as business leaders in our lifetime. There has been great concern about employees who are under immense mental and physical strain, and externally, the pressure to keeping critical supply chains open while adhering to strict health and safety guidelines has required a new level of resilience from us all.

Thankfully, we are now on the path to recovery. Many organizations in the region have adjusted to the new realities of doing business. Having now weathered the roughest parts of the storm, this experience must contribute to an even stronger, more sustainable business strategy. We must continue to obsess about our improvement so that we can move forward with confidence. In the end, it all comes back to the fundamentals.

Here are four areas where businesses need to focus on to ensure a sustainable long-term recovery from the COVID-19 crisis:

1. Putting customers first Customers have been used to interacting with businesses at various touchpoints, and those physical interactions have suffered interruptions in a time of crisis. The temporary closure of retail stores, for example, left mobile and online communication as the only viable method to handle customer feedback related to after-sales service, returns, and so on. Many businesses had to rapidly expand their virtual customer service capabilities in such cases. But once set, online customer interactions were found to often be as effective as earlier methods, and in some cases, even more. A scalable, omnichannel contact center allows you to extend customer service around the clock, while sparing customers the time and cost of frequent trips to physical stores. It is all part of the new modus operandi.

Related: Circular Economy: The Future of Business Post COVID-19

2. Keeping talent inspired Responding to a crisis requires a collective effort involving every member of the team. The way co-workers in many industries have pulled together under extreme conditions has been admirable. The value that a business places on its staff is most evident in such situations. Moreover, open communication sits at the crux of engaging and inspiring talent. By keeping team members regularly updated on the issues at hand and responding promptly, businesses create trust and deepen relationships. And while top-down communication is essential, the importance of lateral communication modes cannot be gainsaid.

3. Supporting the wider ecosystem Modern businesses do not operate in a vacuum. In addition to engaging their customers and talent, collaboration with a broader ecosystem of stakeholders is essential when building resiliency. The evolving relationship between public and private sector entities has perhaps been most apparent this past year. Whether it is through the lens of safety compliance, licensing, visas, or even economic forecasting, the organizations that have opened new avenues of communication with the government will likely find themselves in a better position- now and in the future. This approach extends into the community, too. Family businesses in the region -of which GMG is one- have traditionally been generous contributors to social causes in the community. According to a recent PwC survey, 93% of Middle East family businesses regularly engage in social responsibility activities. This commitment to social engagement was evident during the pandemic, and it has helped whole communities and industries to stay afloat.

4. Testing new technologies Digitalization can make a massive impact on the effectiveness and efficiency of a business's governance model. We saw how the COVID-19 crisis disrupted normal operations in global work-from-home directives. Digital platforms like cloud computing became even more critical in ensuring business continuity. Those businesses that had taken digital transformation beyond mere buzzwords were able to continue operations with minimal disruptions. Even now, ensuring that technology tools are available for a flexible work environment pays dividends for employee morale and productivity.

Related: Say Hello To Q-Commerce: The Era Of Hyper-Local Delivery Is Here

Mohammad A. Baker

Deputy Chairman and CEO, GMG

Mohammad A. Baker is the Deputy Chairman and CEO of GMG, a dynamic group boasting a diverse portfolio of retail outlets, brands and consumer and B2B services across key sectors such as healthcare and pharmaceuticals, sports and fitness, real estate, education and technology.
Business News

Looking for a Remote Job? Here Are the Most In-Demand Skills to Have on Your Resume, According to Employers.

Employers are looking for interpersonal skills like teamwork as well as specific coding skills.

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.

Franchise

The Top 10 Coffee Franchises in 2024

From a classic cup of joe to a creamy latte, grab your favorite mug and get ready to brew up success with the best coffee franchises.

Growth Strategies

"We Got Funded!" UAE-Headquartered Epik Foods' US$15.5 Million Investment from Ruya Fund is Set to Propel its Regional Expansion Goals

The group's investment news thus comes just days away from its first anniversary as a fully operational business.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

The Amazing History of Panasonic, Which Was Founded 100 Years Ago by a 23-Year-Old

The company weathered economic crises and the Second World War, driven by the mission of making affordable mass-produced appliances.