Post Lockdown Changes – Management Paradigm

-Dr.K.THIRUGNANASAMBANTHAN, Asst.Professor, Department of MBA, Sankara College of Science and Commerce.

Business conditions are volatile normally, during this covid era it has become highly volatile. Many organizations are finding it difficult to cope with it. What are the strategies to be followed? Do’s and Don’ts etc. The Universal general business paradigm are Profits, Scale, Goals, Benchmarks, Targets and Competition. Experts say that this universal general business paradigm is going to change because of the corona virus.

According to Management Consultant Ramji Raghavan the new business paradigm will be Human Capital, Goals, Values, Efficiency, Adaptability, Profitability, Sustainability and Continuity

After Post covid humans will not considered as capital they will be considered as a resource the performance of the people plays a vital role. Training to Humans is considered as Investment rather than considering them as Expenses. Goals include retention of customers, Corporate Social Responsibility(CSR), Treat Customers Fairly (TCF). Values will be at the center stage which will guide the business.

Efficiency Metrics are activity discipline to get weightage along with results. When you consider human as resource, if you find any person is not capable of doing this we fire them. But post covid we need to consider human as a capital and concentrate on up skilling rather than firing. Competition is not a challenge, but an opportunity to find the edge, when it comes to Adaptability, Scrambling to Standard Operating Procedures (SOP) for emergencies and uncertainties to be in place.

Operability is the new benchmark since profitability takes a honorable place. Mutual benefit sharing should be implemented. Sustainability is also linked with responsibility, people value more those businesses which are environment friendly. Continuity – Next generation to the business grooming will be more professional. Industries need to keep it in mind about the change of business paradigm and adhere to the procedures to be followed in this new era.