Why digital corporations are overwhelming competitive challenge in COVID 19 Pandemic Situation

World has been going an epidemic situation for couple of months. This depressed situation cause the depressed economic condition for many countries. There are lots of organizations like private and financial corporations faced liquidity crisis above all cash-flow problem. Because of shut-down their organization for mandatory Lock-down by government. In this situation, Most of the organizations cannot pay their staff’s salary or making partial payment. That results employees are getting demotivated in their workplace. Most of the employees are tensed about their Job security. That’s why many organizations loss their market share and cannot survive in competitive market.

Working Home

But some companies operational scenario is different from average in their tactful strategic policy. They have adopted with changes by digitizing their workplace. They allow their employee to work from home and employees are practicing home work. To purport their employees need, they are taking several initiatives to run their operations and to grab competitive advantages are follows

1. Allow to work home: Corporations are allowing their employees to work home. Employees are motivated and completing their assignment efficiently. Employees are finding comfort to do so that’s why half of Americans would prefer to continue working from home for the rest of their lives.
2.  They conduct any meetings by online: Digitized corporations are conducting online based meeting for any matter. They are sharing knowledge each other. It makes more connectivity for organization.
3. Arranging online training and counselling Session: Digitized Corporation are arranging training program to develop and motivate their employees.
4. Effective online Communication with Customer and Clients: Digitized Corporations are communicating with their customer and clients frequently through online basis regarding their feedback, demands and need.

This adoption is required to gaining competitive advantage and avoid liquidation situation. There are some benefits to take this initiatives are as follows:

1.       First of all competitive advantage that are already mentioned.

2.        It saves a considerable amount of time of employees.

3.       It saves money.

4.      It reflects employee’s wants. For Example:  with experience, more people say they like working from home and do not want to return to the office.

5.       Employees are getting job security.

6.     Quickly adopt with changes. Changes are coming because Germany wants to enshrine the right to work from home in labor law, and is an interesting way of learning from an exceptional situation.

Although there are some limitations such as privacy and security issues are important to consider. But at that position there are no alternative without digitization for each and every organizations.

References:

1. https://www.zippia.com/advice/coronavirus-remote-work-survey/
2. https://www.latimes.com/lifestyle/story/2020-03-13/working-from-home-is-awesome-heres-how-to-excel-at-it
3. https://www.nytimes.com/2020/05/05/business/pandemic-work-from-home-coronavirus.html
4. https://www.reuters.com/article/us-health-coronavirus-germany-homeworkin-idUSKCN2280MI 
5. https://www.forbes.com/sites/enriquedans/2020/05/10/working-from-home-its-time-to-have-the-conversation-about-whats-reallyinvolved/#20c51a8774c5