Business Implications of COVID-19/ CORONA VIRUS OUTBREAK A Survey by (An Interim Report) Total number of respondents till March 19, 2020 - 52
How has COVID19/ Corona Virus outbreak impacted your business?
16% 20%
No visible impact on the business except some anxiety There is mild impact on business for reasons like travel cut
27%
There is some impact on business as customers are postponing their decisions
29%
There is a drastic impact on the business as the entire industry is impacted There is impact and the outlook looks very bleak Other (please specify)
4% 4% (Single Response)
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What is your organization doing to minimize the impact of COVID19/ Corona Virus outbreak?
8% 8%
Nothing much, just generating some awareness Doing regular sanitization and providing basic resources like sanitizers and face masks
35%
Generating awareness, sanitizing and giving relevant advisories regarding office behaviour, travel etc
41%
Generating awareness, sanitizing, giving relevant advisories and keeping a strong vigil on people’s health
8%
Temporary closing of some offices and some people are working from home Complete closure of offices and everyone is working from home
0% (Single Response)
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How is IT/ Digital gearing up to support the fight against COVID19/ Corona Virus outbreak? 27%
Nothing much, it’s business as usual
23%
We are building/ deliberating upon new ways of engaging with customers
31%
We are investing in upgrading/ building new applications that support working from home
Social media platform is being extensively used to spread awareness
Other (please specify)
15% 4% (Single Response)
Copyright @ Coeus Age, 2020
Amid COVID19/ Corona Virus outbreak and other market events, which of the following business aspects is most pronounced in your organization? 15%
Our business resilience/ adaptability is being tested
27%
Our risk mitigation approach and how it’s implemented is invoked
35%
Working from home as a practice is being invoked
19%
Business sustainability as an issue has come alive
Other (please specify)
4% (Single Response)
Copyright @ Coeus Age, 2020
Is ‘Living on the Edge’ an unavoidable imperative? The dipstick survey by Coeus Age clearly highlights the business impact of COVID19/ Corona outbreak. For long, we have talked about managing risk, embracing chaos and becoming agile. The time has come to walk the talk. The outbreak and other events seem to be testing our resilience, invoking the risk mitigation plans and making practices like working from home a dire necessity. The challenge is real and probably the better prepared ones will survive. Many will face a severe existential crisis. The business impact of COVID19/ Corona outbreak is clearly perceived to be high. It is very clear – amid the challenge, important lessons are to be learnt and preparations need to be made for the disruption to continuously remain as an inseparable part of doing business. Key highlights of the survey: • 60% of business organizations feel the heat as customers are postponing their decisions to spend, the value chain is being disrupted negatively or the outlook appears bleak. • 76% of them are acting by creating awareness, providing with necessary resources, giving advisories or even keeping a vigil on employees’ health. Business organizations are taking the outbreak seriously and not leaving it just to the government. Nothing is a drill now!