Lockdown Lessons: Business Contingency Measures Can Help Get Over the Crisis
SME World|September 2021
The nationwide Tlockdown in the past two years has severely dented business and the economy, and micro, small & medium enterprises (MSMEs) were the worst hit. In April this year, the Confederation of All India Traders estimated that the daily business loss due to lockdown in Delhi is around INR 6 billion. At an all-India level, this translates into around INR 300 billion, considering full and partial lockdowns, night curfews and other forms of restrictions.
Lockdown Lessons: Business Contingency Measures Can Help Get Over the Crisis

The disruption caused by the pandemic has underscored the importance of having a contingency plan in place to handle a crisis. The Federation of Indian Micro and Small & Medium Enterprises (FISME) is in the process of educating businesses on the importance of a business continuity planning (BCP) and noting that SME associations of Korea and Taiwan have managed the situation better owing to advanced technology and skilled workforce – FISME has signed a memorandum of understanding (MoU) with these associations for exchange of knowledge.

BCP measures that may help

Have a BCP in place before a crisis hits: Put a core team in place for identifying events that can create a potential crisis. This is the first step – the team should comprise people from multiple verticals to enable domain-specific concern areas. Having those will help to prepare a holistic business continuity plan. Besides, make sure mock BCP measures are conducted at least once a year to help employees react in less time.

Preparing the infrastructure: Identifying critical staff and planning their deployment is one of the most important parts of BCP and its execution. Depending on their requirement in the facility, identify staff that can work remotely. If the IT systems are run by a vendor, learn their BCP and how they plan to address your concerns in case of an emergency. Upgrade the tech infrastructure of the company to enable staff work remotely – surveys have found that about half of companies in the UK were not prepared for the transition to working from home and only 39 per cent had the technology in place to enable this.

この記事は SME World の September 2021 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は SME World の September 2021 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

SME WORLDのその他の記事すべて表示
Important Things To Know Before You Start Trading In Stock Market
SME World

Important Things To Know Before You Start Trading In Stock Market

Given the uncertainty around the stock market, trading in shares can be a terrifying thought. At the same time, investing in the stock market indeed comes with a risk, but it is also an efficient way to build wealth if done in a disciplined manner. Several failure stories grip the market, but the commonality in all these stories is the uninformed decision-making process. People who understand the market will never face heavy losses. Therefore, before you start your trading journey in the stock market, here are some essential things you must know.

time-read
4 分  |
November 2021
Your Mental State Determines Health And Growth Of Your Business
SME World

Your Mental State Determines Health And Growth Of Your Business

Don't we all wish to be in full control of our mental state? The brain continuously sends signals to our consciousness that affects how we behave and react. And so, it's important for entrepreneurs to understand this because it has a direct impact on the growth of their business. Entrepreneurs have to take care of their mental state every day to get sustainable results.

time-read
4 分  |
November 2021
Life Insurance Claims: Five Mistakes to Avoid
SME World

Life Insurance Claims: Five Mistakes to Avoid

The utmost importance of having life insurance plan has been more clearly evident than ever before, owing to the pandemic. With the unexpectedly high death rates in the past year, the pandemic has conveyed the message that life is unpredictable, so making the right choices is always ideal. One such right choice for yourself is an optimum life insurance plan that can cover your family's needs in your absence or can even be a great financial support post your retirement age.

time-read
3 分  |
November 2021
Anti Aging Foods to Keep You Lively & Going
SME World

Anti Aging Foods to Keep You Lively & Going

Ever since life began Every living being from the tiniest organism to the largest creature is genetically coded to live longer, thrive and flourish. Our DNA is genetically wired to adapt to the most hostile environment and we are programmed to survive. If this genetic coding is hard wired into our systems:why then in this modern age do our bodies appear to be ageing faster than our chronological age?why are we afflicted with constant metabolic syndromes; why is old age becoming so torturous with unending visits to the hospital? It seems as though all the myriad colours that life has to offer have become limited to the colours present in our pillbox.

time-read
5 分  |
November 2021
Your Music Guru is now a click away Digital Platform with Potential to be Global Brand
SME World

Your Music Guru is now a click away Digital Platform with Potential to be Global Brand

Muzigal is an online music learning platform connecting teachers and students. Founded by Dr. Lakshminarayana Yeluri, Muzigal is set up with an aim to democratize music education by connecting the huge untapped music teaching talent across the world with millions of aspiring learners limited by geographic boundaries.

time-read
7 分  |
November 2021
In-vehicle Infotainment Market Set for Big Growth
SME World

In-vehicle Infotainment Market Set for Big Growth

Kulshrestha is an experienced executive with a demonstrated performance in consumer electronics industry, insurance sector and manufacturing industry. His major skill sets include company management, business planning, business alliances, new business development, and marketing management, market planning market analysis, strategic partnerships and pricing strategy. A strong business development professional with an educational qualification focused in risk management and IT from BIMTECH, he has a rich work experience of 24 years history in various leading brands. Some of the leading companies he has worked with are Carrion Aircon Ltd., ICICI Prudential Life Insurance, LG Electronics India, Electrolux, OSRAM and currently in Pioneer India Electronics. Mr Gaurav also has an expertise in Philately, Photography and Numismatics.

time-read
5 分  |
November 2021
How Next Level Digital Technology will Transform Businesses
SME World

How Next Level Digital Technology will Transform Businesses

When the Covid-19 pandemic hit, going digital became the only way out for companies looking to keep doing business as usual. However, the truth is that digital transformation has been gathering pace for several years and was pushed over the tipping point by the pandemic. Now, as the world adjusts to the 'new normal, businesses are treating digital transformation as not just a stop-gap measure but as a strategic tool to evolve, scale and adopt agile practices. Here, we examine the many positive impacts of a systematic move to digital and how software companies have been successfully making the shift.

time-read
3 分  |
November 2021
Digitalization will Make Diagnosis Accessible by Commoners in Remote Areas: Dr Anjeli Misra
SME World

Digitalization will Make Diagnosis Accessible by Commoners in Remote Areas: Dr Anjeli Misra

Dr. Angeli Misra is Director, DLifeline Laboratory, an advanced pathology laboratories of Delhi-NCR region. She brings with her an enormous experience of technical and service expertise spanning over 34 years in clinical pathology and 26 years as chief administrator and torchbearer in raising Lifeline Laboratory to meet the highest international standards. She has exhibited exceptional proficiency in Histopathology, Cytology, Microbiology, Biochemistry, Immunology, Oncology, and Hematology & Clinical Pathology.

time-read
4 分  |
November 2021
Banks Need to Invest in Digitisation to Better Serve SMEs
SME World

Banks Need to Invest in Digitisation to Better Serve SMEs

If a person from the 1980s was somehow transported to present day, a lot about the world would astonish and amaze them. Our current era is nothing like the future that was imagined in popular culture at the time — there are no flying cars, we do not have the ability to teleport, and, sadly, as the last 22months have demonstrated, we still haves ignificant improvements to make when itcomes to healthcare and social equality. One thing, however, that this time traveller would not find surprising at all is the decision-making process used by banks when a small or medium-sized business applies for a loan.

time-read
4 分  |
November 2021
5 Must Have Tech Innovations for Small Businesses to Boost Productivity & Profits
SME World

5 Must Have Tech Innovations for Small Businesses to Boost Productivity & Profits

Leveraged Technology

time-read
4 分  |
November 2021