BUSINESS MANAGEMENT DISCUSSION POST

BMGT 364 Wk 8 R. FREEMAN initial post:

Also, the most robust business strategies would need to be tweaked in the face of COVID-19. Companies take calculated steps to protect workers and reduce financial and operational risk. To endorse unprecedented levels of remote working and online trading while surviving an upsurge in cyberattacks, businesses must ensure that workers are as protected as possible, secure financial sustainability, evaluate supply chain resilience, and strengthen critical systems.

 

 

Planning

 

The organization must make proactive cost-cutting decisions based on the evolving needs of its customers. Since many workers work from home and businesses have realized they can be just as effective remotely, the forecasted furniture manufacturing is a fair field to cut. It is possible to apply the ramifications of online shopping. When it comes to marketing touchpoints, more people are shopping online and browsing social media than ever before. 

 

Organizing

 

Immediate changes were made, as well as the possible effect of the virus on workers. navigate the new standard when taking advantage of some of the improvements and opportunities that the landscape has to bring. Companies that sell primarily through conventional distribution networks and/or brick-and-mortar stores have been hit hard by the impact. Consumers are more dependent on the digital world than ever before, and companies are being forced to change their strategies and transition toward digital transformation with much greater urgency than ever before. 

 

Leading

 

The pandemic shutdown started, but when people began to purchase desks and upgrade their living spaces, the company's profits must have improved. To keep up with the increased demand, the business will need to enter the eCommerce market, which will allow it to capitalize on the fact that the pandemic has driven up demand for furniture sales, which are usually seen in physical stores. Adaptability needs the ability to make choices and take action. Meet with related staff, either remotely or in person, to explore realistic scenarios for terminating plans or goods that are no longer viable.

 

Controlling

 

Make the most of the company's existing resources, provide long-term growth, and support a long-term business model To meet clients, concentrate on online marketing. Make the most of the opportunities at your disposal. Incorporate the World Health Organization's new and updated workplace safety guidelines, promote remote working, account for workforce versatility, and rely on your network.

Explanation:

Most companies are finding it difficult to keep their financial wheels spinning during the lockdown. Unfortunately, the effect on startups and small companies may be much more serious since they have fewer cash reserves and a limited margin for coping with unforeseen downturns.

Reference: 

Lumen, (n.d.). Common Organizational Structures. Retrieved from https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/common-organizational-structures/

Lumen, (n.d.). Influences on Organizational Culture. Retrieved from https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/reading-influences-on-organizational-culture/

Lumen, (n.d.). Key Dimensions of Organizational Culture. Retrieved from https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/reading-key-dimensions-of-organizational-culture/

Lumen, (n.d.). Organizational Culture. Retrieved from https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/organizational-culture/