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The current COVID 19 situation has brought about many changes among people and the workplace

Finance

The current COVID 19 situation has brought about many changes among people and the workplace. You are required to write a discussion paper reflecting on the following areas of the organization and business management. You are encouraged to expand your discussion utilizing practical examples of your choosing:

1. Analyse the notion that organisations today are adopting downsizing or organisational reconfigurations in order to meet the growing challenges posed by this pandemic.

2. Analyse the long-term ramifications and consequences of these changes to employees and businesses as a whole?

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1) The companies have definitely adopted to the "new era" of business post-pandemic by taking several measures whether its operations or financial spectrum, the Analysis of reconfigurations in order to meet the growing challenges posed by the pandemic:

  • The companies have swiftly laid-off employees to cut the financial costs
  • The companies have vacated various properties to save rent for a year which could be in millions of dollars spread across the globe.
  • Companies have taken several measures to connect all the employees via work from home.
  • The companies have invested heavily in IT and infrastructure to keep working from home across the Globe so that even a pandemic cannot stop their course of business or operations
  • The companies have done various downsizing across the team, operations or supplies to meet the new pandemic demand.
  • The organizations across the Globe are also tweaking their investment portfolios to inculcate the new risk which pandemic has brought to the world.
  • There have been various logistical supply chain changes made to meet the new criteria of the post-pandemic world.
  • Many companies have also adopted to new safety measures to get back to the work and meet the new Pandemic rules and guidelines.

2) Long term ramifications:

  • Some companies have permanently shifted to Work From Home culture.
  • Some companies have gone bankrupt and will never come back to the business
  • Real Estate market has completely been shattered due to the pandemic
  • Companies have to invest heavily for their employees' health and benefits.
  • Companies have to make investment decisions keeping the pandemic in the mind in this era.