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Planning for the Post-Coronavirus Era

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Business growth graphic

(MaxPixel.net)

6 Feb. 2020. Companies, particularly small enterprises, trying to navigate turbulent world markets, need a constant flow of accurate and reliable data on the state of their business. The emergence of the novel coronavirus, as described in Science & Enterprise and elsewhere, has created even more uncertainty about doing business in China and throughout Asia. The coronavirus, like other viral disease outbreaks, will eventually pass, but business people will still need solid guidance from their data when dealing with counterparts in the region.

Even those businesses now holding back from entering the China market should start preparing for the post-coronavirus environment. After the outbreak subsides, business people may see incentives from authorities in regions most affected by the coronavirus to encourage a return of commercial activity. And governments elsewhere in the world will likely want to re-establish business connections with China, to promote commerce with their countries. Yet at the same time, transportation and communications networks, as well as many public services, will probably face disruptions and dislocations, requiring more planning and patience than before the outbreak.

These are just a sample of opportunities and challenges businesses may face in the post-coronavirus period. As a result companies doing business in China and elsewhere in Asia will need to make adjustments in their management systems to be ready for these changes. Many business systems today use analytics, from simple formulas on a spreadsheet to machine-learning algorithms, to estimate costs and revenues over time and under various conditions.

For example, customer relationship management systems offer a way to engage and interact with customers to build positive experiences with companies, and need to factor in those countervailing pressures as the coronavirus outbreak recedes. A customer relationship management, or crm expert on the ground can help prepare for these changes.

Likewise, enterprise resource planning or erp systems make it possible to automate and support end-to-end business process across finance, human resources, manufacturing, and distribution. In this case as well, analytical models may need adjustments to accommodate both the opportunities and challenges presented by a receding coronavirus outbreak. And, as before, having crm and erp consulting help on the ground, can help businesses through this uncertain time.

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