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Introduction : Commercial And Organisational Impact Of The Covid-19 Pandemic
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Task 1 : v Changing industry trends
One of the things that happened during the pandemic was the evolution of remote working. According to the video, the concept of offices has been around since the industrial age. This practice of going to work has become a tradition and even in the age of the internet continues. This has been proven to be unnecessary in modern times by the global pandemic. As organisations sent workers home due to government restrictions around the world, the companies started to provide or use available communication technologies for the people to work remotely from their domicile. The operation was so effective that many companies worldwide still maintain it. It allowed the company to avoid overhead costs by shutting down its facility use and keeping profit margins at their optimal. Apart from that, there are going to be socio-economic impacts as well due to the shift to remote working. Offices on average spend $10,000 per employee in a year, making them highly inefficient. Even though there may be issues with the maintainance of corporate culture with remote working (Shaheen, 2022).
These are the things that can be cut out and not just reduce energy consumption but can stop the overpopulation of cities as people from rural areas travel from their place to cities creating populated nodal points. Even though this development is important for the development and sustenance of trade and commerce, especially for the unorganised sector of the economy. This is also the reason behind the unorganised sector getting so affected by the pandemic as people were under strict lockdown. Google, Twitter, Meta, and so on are already starting to send most of their employees to remote work. This can be done if the companies can maintain work efficiency of the employees working remotely (Shaheen, 2022). However, there are industries that also fuel industries around them. These are the unorganised sectors that depend on the larger industries and the employees that come to work in offices for their own survival. These are usually small food stalls, shops, markets, plumbers, doctors, and so on.
Task 2 (PPT) : Organisational issues
- Supply chains have had a huge impact on the organisations
- Imports of raw and finished items nearly stopped.
- The solution can be found in establishing local supply sources
The worldwide business landscape has been impacted by the coronavirus pandemic epidemic. People's needs have diminished as a result of the pandemic since they were compelled to stay at home, which has made it difficult for enterprises to maintain their financial stability through commercial operations globally. During the coronavirus crisis, SMEs from several nations had their financial stocks decline and break in the supply chains.
Supply chain management as an issue
- 61% of businesses concentrated on boosting supply chain resilience by stockpiling more essential supplies (Alicke, Barriball & Trautwein, 2021).
- almost 55% of enterprises were concentrating on dual sourcing necessary raw materials for the same issue.
- Supply chains from foreign markets became a huge issue (Alzoubi et al. 2020).
Businesses have responded to this situation by nearshoring, expanding their supplier base, regionalizing their supply chains, and boosting their inventories of vital items. For an instance, during the pandemic, from this, it is evident that businesses are concerned about increasing the flexibility and agility of their supply networks during the epidemic.
- Due to the pandemic, the closure of businesses abroad has led to supply chain disruptions.
- The company needed to make Supply chain management changes.
- These changes were made through technology and strategy change.
The induction of supporting technology allows better management of the supply chain and even allows for the business to have more flexibility and agility in the market.
Changes that need to be made
- Focus on making supply chains more flexible, resilient, and agile needs to be done (Alicke, Barriball & Trautwein, 2021).
- Induction of automated technologies needs to be done in warehouses
- Local supply sources need to be scouted for and local supply chains need to be established.
- Proper collaboration with suppliers became important as well.
The SCM disruption forced multinational corporations to pay attention to this factor and strengthen their supply chains' resiliency, agility, and flexibility. According to a McKinsey poll, roughly 93% of senior supply chain executives from various industries and geographical areas concur that they are concentrating on making their supply chains more flexible, resilient, and agile.
Ulrich and Smallwood’s framework
- The human capital of the organisation needs to be reskilled for the induction of technology
- A change strategy needs to be formed that takes a lot of prior research (Agrawal and Narain, 2018).
- New capable and experienced key employees need to be brought
The human capital and their training is a time-consuming process but easy to implement, the strategy-building process needs market, customer, risk, and competitor analysis, but is very accomplishable. On the other hand, the process of inducting talent into the company is an easy process. Hence according to Ulrich and Smallwood’s framework, change management was a manageable and viable option.
Kotter’s change model
- The creation of strategies and plans was done well along with building a coalition.
- Enabling employees through reskilling and enlisting experienced managers and workers was done (Brock et al. 2019).
- Goals were set and executed for bringing change.
According to the developments in the organisation it can be found that all the right processes were followed during the conduction of a change management process. Hence using the Kotters change model, it can be said that the work done was effective.
Managing the issue better
- The management could be bettered through alternate supply lanes internationally.
- Optimisation of needs was done, and end-to-end controls were maintained (Ali, et al. 2022).
- Efficient planning, risk assessment, training, and education were provided to the employee.
Alternate international supply chains make sure that prices of finished products are low. Shifting the supply chain from the international market to the domestic makes the company more controlled, but raises the prices too. However, end-to-end control was achieved assuring quality in the domestic market.
- The issue was identified to be a supply management issue
- Change management processes were launched to solve the issue
- Change management was done according to Ulrich and Smallwood’s framework (Henning and Padayachee, 2018).
- Using Kotter’s change management framework, the change management process was found to be effective
The change management program that was launched to solve the supply chain issue was found to have high efficacy. This was accomplished by the induction of technology, training of the staff, induction of skilled employees, and shifting supply chains to the domestic market.
Agrawal, P. and Narain, R., 2018, December. Digital supply chain management: An Overview. In IOP Conference Series: Materials Science and Engineering (Vol. 455, No. 1, p. 012074). IOP Publishing.
Ali, A.A., Saadi, S.M., Mahmood, T.M. and Mostafa, S.A., 2022. A smart water grid network for water supply management systems. Bulletin of Electrical Engineering and Informatics, 11(3), pp.1706-1714.
Alzoubi, H., Ahmed, G., Al-Gasaymeh, A. and Kurdi, B., 2020. Empirical study on sustainable supply chain strategies and its impact on competitive priorities: The mediating role of supply chain collaboration. Management Science Letters, 10(3), pp.703-708.
Brock, J., Peak, K. and Bunch, P., 2019. Intuitively leading change: completing a kinesiology department-to-school transformation using kotter’s 8-stage change model. J Physl Educ, 6, pp.14-24.
Henning, S. and Padayachee, S., 2018. A Conceptual Framework for the Management of a Personal Leadership Brand within the Tourism and Hospitality Industry.
Mckinsey, 2022. How covid 19 is reshaping Supply Chains. Available at: https://www.mckinsey.com/capabilities/operations/our-insights/how-covid-19-is-reshaping-supply-chains [Accessed 9tth November 2022]
Shaheen, I., 2022. 4.3 Maintaining Corporate Culture with Special Reference to Remote Working in Covid-19 Crisis: Issues and Challenges. An Anthology of Contemporary Business Trends: A Research Compilation.