Things to Consider While Creating Businesses in Post-Pandemic Scenario
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Mar 24,2021
- 12 Mins Read
The inception of pandemic has wholly disrupted the market. People, as well as companies, have to acclimatize with the changing scenario. The epidemic led to a steep decline in the consumer market and altered strategic moves of the companies. Employing technology at its fullest had become an ordinary practice. From tracing employee engagement to addressing consumers’ queries, technology aided in creating new normal and keeping up with adverse conditions.
In a dynamic business environment, companies always find it difficult to survive. With the presence of a bane health crisis, it becomes even more difficult to sustain. Owing to the crisis, aspiring entrepreneurs face difficulty in finding business ideas under INR 2 lakh. Since mainstream businesses were abruptly closed at the onset of pandemic thereby, a new slew of small and large business ideas have to be emerged. Innovative young minds managed to disrupt the business economies; however, there were a few things that they were unprepared for.
While actualising new business ideas, young minds have to imbibe new cruxes about the business, which have originated due to the current adversity.
Adopting WFH in Work Culture
Working from home (WFH) has become deeply inclusive into the corporate culture. It is beneficial for employers as well as employees. WFH will help businesses to reduce infrastructure cost. In its place, companies are now infusing more on technology and increasing productivity of employees. Subsequently, various giant companies like Tata Steel, Infosys, Philips, and Maruti have permanently added WFH into their system.
This has become evident of a new change in the Indian workplace. New entrepreneurs have to keep in mind this element and add into their work culture as well. WFH has become immensely useful for employees as they can work at their comfort and do not have to travel at all.
With the aid of technology, a virtual workplace has been created amid the business ecosystem wherein employees are constantly monitored. The upside of the crisis is that it has advanced technological development in the Indian business landscape.
Developing a Flexible Schedule
New startups that have merged or on the course of commencement should create a work schedule as per employees’ flexibility. They have to address issues that surface while balancing work and personal life. After deploying WFH, working shifts would be atypical, meetings would be longer and more productivity would be anticipated.
Companies, therefore, have to address these issues and accordingly create flexible schedules for the employees. Completing home chores alongside office work can be strenuous and affect performance, thereby, companies have to create a manageable work schedule.
While creating small scale startups, infrastructure would play a crucial role. The pandemic will enable entrepreneurs to heavily invest in technology even though their business ideas would be under INR 5 lakh. In the early-stage companies, technology will be contingent on infrastructure. Since companies would not be big enough, they invariably need a room for innovation and brainstorming.
At such times, employees have to gather together and physically work as a team. Future entrepreneurs have to contemplate on this and retain infrastructure for their business.
These suggestions will assist young business minds in establishing an apt business. Besides this, there are various other small things that have to be addressed while creating a business in the post-pandemic sphere.
More from Jaspreet Kaur
- July 11, 20173 Min Read
- January 10, 20183 Min Read
- January 17, 20183 Min Read
- January 18, 20183 Min Read
- January 20, 20183 Min Read
- January 22, 20183 Min Read
- January 23, 20183 Min Read
- January 24, 20183 Min Read
- January 29, 20183 Min Read
- January 30, 20183 Min Read
- January 31, 20183 Min Read
- February 05, 20183 Min Read
Recommended for you
- September 30, 2021
- September 17, 2021
- January 28, 2021