Page 29 - Banking Finance September 2020

ARTICLE

and reconfigure the business strategy to reduce the way that how we deal with the customers. Employees of
expenses. the various organization also need to be reskilled with the
ability to work in this digital environment. A continuous and
But problems are common for all, we need to think out of lifelong learning has now become the need. Here too, the
the box to make the things happen for immediate business mind-set& attitude of the employees plays an important role
continuity. Again, we have to learn the lessons to prepare to make them ready to work within the changing
our self for post Covid business world. environment.

The immunity check of business When any organization is going to implement change and

In the human body, immune system fights many of the going to adapt new business model for survival, the immune
harmful infections & diseases so that the body can function system of the organization plays very important role. Their
normally. Similar to human body, businesses too have core strength & know how, their digital infrastructure and
immune system. The immune system of an organization is the mind-sets of the employees are the key drivers in the
developed by the system, procedures and the mind-sets. process of transformation. How immune the organization
The immunity of the business refers to the inner core is, decides the survival of the organization.
strength of business that protect the business in difficult
times. The continuity of the business largely depends on the The Invest India Business Immunity Program of Indian
immunity of the business. Government - The government has also been trying to infuse
immunity by way of various stimulus packages to save the
How to develop immunity in business - The ingredients that businesses. Government has launched Invest India business
develop the immunity in business differs from business to immunity platform. It is the platform which provides the real
business, it may be the capital infused, it may be the time information to the business & investors about the
technical know-how of the business, it may be the market various initiatives related to India's fight against the
and it may be the business model of that particular business. coronavirus pandemic. It is a much needed and very
The question here is that how compatible the business is, in important initiative in this difficult time for business and
such type of pandemic conditions and which factors are investors.
going to support your business. Now one thing that we have
learnt here during this coronavirus pandemic is that the This platform also provides the information related to
business should be enough immune to face such type of business decision taken to help various sectors of the
shock. economy by the concerned ministries. This also provides
various solutions related to business like how to protect
In this difficult time when all the super markets and malls workforce from coronavirus and supply of goods and services.
are closed the small kinara shops performed well to fulfil the These initiatives of the government will help businesses to
public daily need. Similarly, when the big factories are on turn around and come out from this crisis with more inner
hold, the small business that can be handled from home, strength and more immunity.
have performed well. Digitalization and the automation are
another way to enhance the immunity of the business. Creation of supportive environment by
Wherever the automation can be done, it should be.
Wherever the digital infrastructure is needed, it should be the government
provided. Now businesses need to immunize themselves The Government Initiatives- Government of India has
against future shocks. announced Self -reliant Movement (Atmanirbhar Bharat
Abhiyan) to boost the business & economy, which focuses
Digital customer Interaction - Covid 19 has changed the way on Economy, Infrastructure, system, Vibrant demography
we were interacting with our customers. Social distancing and demand. A comprehensive package of Rs. 20.97 lack
& work from home has become the norms now and we have crore shave been announced to cater to various sections
to deal and interact with customers within these norms only. including cottage industry, MSMEs, labourers & middle class.
Virtual assistance & online support now have become the Many initiatives have been taken by the Government and

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