Business APAC Prominent Entrepreneurs Fighting Pandemic

AUGUST 2020 EDITION
BUSINESS APAC PROMINENT ENTREPRENEURS FIGHTING PANDEMIC
ENTREPRENEURS
HUMANITARIAN
RESPONSE TO
PANDEMIC
Pg.36
SAM
HALFORDManaging Director | EQ India
EMBRACING OPEN
INNOVATION DURING
CORONAVIRUS
PANDEMIC
Pg.24

LETTEREDITOR’S
Throughout history, crises have been pivotal periods for the world. If we look at the
data, these crises have introduced us to some incredible inventions, improved
healthcare systems, and advanced technologies.
The current pandemic will be no different in regards to the advancements. Due to the COVID-
19 outbreak, several industries were forced to shift to virtual offices—without any prior
experience—whereas, few of them had to halt their services. Despite these challenges, we
noticed how entrepreneurs were swift in adapting to this new normal. Not only did they ensure
smooth workflow but also introduced new work policies to enhance the productivity of team
members.
Also, don't miss out on the articles in the 'Good Samaritan' and 'Fostering Innovations'
sections respectively, focusing on how humanitarian response can prove beneficial amid crisis
and which innovations can be embraced in this COVID-19 era.
We have featured Sam Halford on the cover, who is optimistic about his response to the
pandemic and has conversed about the measures undertaken by EQ India. This issue also
focuses how the leaders are striving to safeguard the company from the consequences (Gilco
Global), be usable and accessible to the clients (Mohamed Saieed), deliver uninterrupted
services (Christopher Carter), sustain and overcome the impact of pandemic (Shrenik Shah)
while protecting and redeploying unique capabilities (Rachel & Sam Media & Entertainment).
Furthermore, the pandemic has been acting as a catalyst for entrepreneurship. Entrepreneurs
are reinventing their leadership style, whereas several other industrialists are emerging with
innovative solutions to tackle the challenges. Capturing this impact of COVID-19 on
entrepreneurs, the team of Business APAC has come up with the latest issue “Business APAC
Prominent Entrepreneurs Fighting Pandemic”.
Vidya Joshi
Editorial Coordinator
A Catalyst for Entrepreneurship!
Prominent

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CONTENTS
SAM
HALFORD
PG. NO. 10
RACHEL & SAM MEDIA
& ENTERTAINMENT
PVT. LTD.
PG. NO. 30
ENTREPRENEURS HUMANITARIAN
RESPONSE TO PANDEMIC
EMBRACING OPEN INNOVATION
DURING CORONAVIRUS PANDEMIC
PG. NO. 24
PG. NO. 36
Good Samaritan
Fostering Innovations
ARTICLES

GILCO GLOBAL
PG. NO. 20
CHRISTOPHER
CARTER
PG. NO. 22
MOHAMED SAIEED
PG. NO. 28
SHRENIK
SHAH
PG. NO. 34

Sam Halford
Managing Director
EQ India
10

SAM
HALFORDAn E ective Leader ﬁrmly
Combating The Crisis
he unprecedented crisis of COVID-19 has challenged
Tthe traditional norms of businesses. As the traditional
methodologies are altering amid crisis, this also
demands a transformed mentorship by the leaders. Managing
the teams remotely while also continually providing
uninterrupted top-notch service to the clients will be a
challenge for the entrepreneurs. “A leader should always have
his eyes set on the horizon, developing new techniques and
strategies for the organization,” says Sam Halford, the
Managing Director of India. He has earned aEquiniti (EQ)
degree in Computers and has an interest in the tech industry.
However, he had a choice to make between a role in
technology or moving into social work. Sam learned that he
was inspired towards leading people and encouraging them,
thus he chose to leverage his tech knowledge and mentor
people.
COVER STORY
11

A key element of culture and business
practices of the EQ India is that it
In times like these, changes are
inevitable and a good leader needs to be
a good learner to steer the company
through the challenges. With the same
determination, Sam has led the team at
EQ India from the front and is striving
to be an effective leader.
Sam's perspective on leadership is
different than the others. He believes
that leadership does not relate to
management. Management is all about
organizing whereas leadership is about
invention and innovation and it is about
leading people. He affirms that a good
leader should possess immense
knowledge of all the current trends,
advancements, and skillsets. Besides,
also a leader should have clarity of
purpose and vision for his people and
his organizations. Being influenced by
these qualities, Sam has molded himself
accordingly to be a better mentor for the
aspiring.
EQ India is the offshore arm of the
Equiniti Group. The EQ India team is
adept at delivering many successful off-
shore projects. The company operates
during US, UK and India hours enabling
seamless interaction between
stakeholders in the US, UK and India.
This team provides BPO, IT
development, and testing in addition to
other operational support such as
Finance Shared Services, People
Services, Marketing, HR, and learning
& development to various EQ Group
companies and clients. The EQ India
team manages several activities across
various services, completing numerous
transactions yearly. EQ India is a Centre
of Excellence and it showcases integrity
and openness in the dealings with its
clients.
Intelligent Provider of Sophisticated
Technology
incorporates similar DNA and values
of the Equiniti Group. EQ India
provides sophisticated administration,
processing, and payment services, as
well as smart technology solutions, for
increasingly complex and regulated
markets. Structured and robust
transition plans are designed every
time a new project is offshored to the
business. During the implementation of
the project plan, a road map is adopted
to complete the transition and track
every milestone achieved. Once the
initial transition is complete the team
in India works in partnership with the
UK team to ensure the best customer
service is maintained. The transition of
any new work is formally documented.
Delivering these services enables its
clients to focus on important tasks.
People Build Businesses

Sam believes that business is built
around people, and understands that
EQ India's reputation is built on how it
treats people and customers. Thus, EQ
India practices a culture of driving
positive change, celebrating each
moment, and empowering all its
colleagues. Besides, the company is an
intentionally diverse and naturally
inclusive workspace that respects,
loves, and celebrates people of all
kinds. The company encourages an
open and flexible team atmosphere and
promotes innovation and continuous
improvement. Sam quotes, “I keep
telling the mantra on any forum I go
and whenever I meet my
staff—Transform, Innovate,
Collaborate but never Stagnate!”
Compassion and empathy are the core
values of EQ India, further enhancing
the morale and loyalty of its employees
making them feel important and alued.
In order to motivate and recognize
talents, EQ India has always stood out
with a gamut of awards and accolades
given every quarter that
12

“Together we create seamless
transactions, accessible services,
and positive experiences for
people around the world.”
COVER STORY
13

Equiniti India
is the o shore arm
of the Equiniti Gro

inspires employees to go that extra
mile and a reason to achieve more.
EQ has also incorporated a healthy
work environment considering the
work-life balance as an important
aspect. Sam asserts that the employees
are not expected to work for long hours
rather work more efficiently.
Furthermore, the company provides a
mandatory vacation of 10 working
days a year which is popular among the
team members. The saying, 'All work
and no play makes Jack a dull boy' was
rightly understood by the company
providing an opportunity for the
colleagues to exhibit and hone their
extracurricular skills via clubs and
Communities of Interest.
Optimistic Outlook on Crisis
Furthermore, Sam has an optimistic
outlook on the current situation. In his
opinion, the lockdown has successfully
managed to teach flexibility &
responsiveness to the unknown,
uncertain, and unfamiliar aspects of all
the teams in the organization. Besides,
the pandemic has also tested flexibility
related to mental, physical, financial
aspects of the organization. Favorably,
EQ has been responsive to adapt to this
“New Normal”. In response to the
impact on EQ Sam states, “Pandemic
has defined that EQ is not only
stronger but a flexible organization,
Sam claims that almost every
corporation has been impacted by the
current pandemic and his company is
no exception. One of the long-term
effects of the pandemic is that offices
will have to follow social distances
without sufficient space for all staff
members to be physically present as
they have to maintain social
interactions. He recognizes that
maintaining a perfect symmetry
between professional and personal life
with more people working remotely is
going to demand a little more effort.
Despite of the optimistic approach,
overcoming the impact of the
pandemic is a hard task. However, Sam
and his team is dedicating sheer efforts
to minimize the impact. Primarily, EQ
India has created a Core committee
comprising of the leadership team,
managers, and employees, seeking to
meet each other regularly to address
any issues or concerns and to maintain
effective interaction amongst the
members.
Whilst also keeping social distance in
mind, EQ is providing customized
which can change rapidly. It is also
proved that EQ cannot only survive but
also grow exponentially.”
The pandemic is bound to have a
positive or negative impact depending
on the way leaders are operating the
businesses. Highlighting the positive
side of the pandemic, Sam said that
this situation has challenged the all-
time approach of working from the
office and proved that WFH is much
productive during the hour of crisis. On
the other hand, the staff also delivered
a far better result than anticipated
during the earlier stages of lockdown.
Besides, the COVID19 crisis has
managed to alter the traditional
working style and introduced a New
Modus of Operandi that has been
defined as part of “New Normal
Working Ways”. Following this
measure, the employees are working in
different scenarios such as Work from
Home, Work from Office, and Flexi
working. Sam understood that keeping
employees motivated by providing
laptops/desktops besides infrastructure,
additional display monitors, internet &
phone connections, printers & chairs
was indispensable.
Measures to Overcome Pandemic
impact
transport facilities. Additionally, it has
also arranged hotel rooms with food to
help in emergencies.
“We organized Doctors visit &
vaccination camp arranged at very
early stages of COVID-19 scenario,”
asserts Sam. He considers his team to
be of utmost importance and has been
helping the same by providing financial
assistance on compassionate grounds.
In addition to this, EQ India's award-
winning L&D team has introduced a
new initiative called “Lockdown
Learning”. Due to work from home
enabled, employees are saving
favorable time on the commute with
this new initiative they can utilize the
time in learning. Sam further adds
“Learning sustenance is key as part of
organizational objectives as I always
want our resources to be skilled and
multiple skilled to face any critical
conditions.” L&D's initiative of online
learning has kept the staff engaged and
at the same time managed to upskill
their knowledge. Compound employee
16

Considering the nature of the virus, EQ
India has considered a wide range of
skills helped EQ tremendously to
manage all of its customer services
with sheer commitment and
satisfaction. Nevertheless, with the
business being significantly affected in
India and across the globe, there is a
strong emphasis on cost controls to be
seen in the near future months from
now. Due to the work from Home
strategy, EQ is also envisaging the
need to revisit the office space in the
coming months, or any alternatives to
cost control of the facility. On the other
hand, EQ India is highly concerned
about the mental health of its
employees, considering the way they
spend too much time in four walls now.
Despite some training sessions on
Mental Health, it is encouraging the
staff through regular training and
orientation on Mental Health and
mindfulness sessions.
Conferring the Pandemic measures
The pandemic has positive and
negative impacts on the way we
operate our business. The current
situation has influenced every
company and community at large,
besides we are no exception to it. It
has imposed the “New Normal” to
all the aspects of one's life. The
lockdown has taught flexibility and
responsiveness to the unknown,
uncertain, and unfamiliar aspects of
all the stakeholders in the
organization.
scenarios that could emerge and how
EQ India would respond. Further
below Sam answers the questions
concerning their approach towards
COVID- 19 crisis,
Ÿ We all are witnessing the impact of
COVID19, how do you plan to
overcome and sustain this
situation?
Ÿ What is your outlook on the
impact of pandemic over
industries? Ÿ What would you advise the
aspiring entrepreneurs?
When a major event happens that
poses an existential threat, many of
the norms of life change, and there
has been a drastic change in the
working environment too, so we
are currently focusing on placing
the right people in the right places.
We quickly figured out how to
work from home by providing all
the essential items like laptops and
hotspot devices. As well as, bearing
in mind that it is important to create
a balance between efficiency and
understanding of the human
elements or human conflicts which
is at sharper focus now.
Ÿ Has the current situation somehow
altered your milestones set for the
year 2020?
We are in a time of unprecedented
technological growth that clearly
shows no signs of slowing down.
Cutting-edge technology is seen
now in every industry. Hence, we
will need to ensure that we take
advantage of these new
opportunities to improve our
business, products, and services.
Ensure more time is spent in
Training & Development and
accept that change and reality are
inevitable. If you do not accept
change then you won't succeed.
Accept and live with changes
within the business and with the
individuals in the business.
We are focused on building more
reliable services for our clients
despite the current situation and
also construct a robust and secure
environment for our people to work
from home. Likewise, we aim to
maximize efficiency and
productivity by having an effective
Business Continuity Plan in place
and proceed to grow despite the
global environment.
“On my leadership
role, I have always
strived to be an
effective leader by
leading from the
front and ensuring
I empowered those
who worked with
me to do the same.”
COVER STORY
17

C
risis have always been pivotal
for the development of societies.
Pandemics have helped advance
the healthcare-systems, and there have
been several technological innovations.
The businesses are striving to overcome
the global financial crisis and the
entrepreneurs are rising to the challenges
caused by the COVID-19. As a
resourceful response to the crisis Gilco
Global is providing continued support to
its customers and also rendering full
time support to its installations in critical
facilities like Hospitals. We had an
interaction with Mr. Aman Moudgil who
is a General Director with Gilco Global
on the current situation and the changes
he feels for the times ahead.
Aman has completed his Bachelor's in
Computer Science Engineering from the
prestigious Panjab University and was
amongst the 1% of all students across
streams and earned an Honours degree.
He is one of the founding Directors of
Gilco Global and specializes in IT and
electronic Project Monitoring systems.
He has also been recognized through
various forums as a young emerging
leader and has authored several
international papers in technical journals
and conference proceedings.
Additionally, he is associated with
Institution of Engineers, BNI, Indo
Spanish Chamber of commerce, Indo
Italian chamber of commerce, and Indian
Importers Chambers of commerce and
Industry.
Aman's roles and responsibilities are
diverse at Gilco Global. He leads the
Safeguard Against the Inevitable
Aman expresses that the COVID 19
crisis has both short term and long term
psychological and financial impacts.
According to him, the construction
sector already reeling with multiple
challenges from lack of capital and
credit avenues to insolvencies, multiple
frauds and regulatory burden under the
Environment Laws and the Real Estate
(Regulation and Development) Act,
2016, is now marred by the COVID 19
pandemic, with no likely relief in sight.
Many nations had imposed lockdown to
restrict the movement of people and
social gatherings. Likewise, the
Government of India also imposed
lockdown to contain the pandemic. This
has halted all the construction activity
and most of the business activity across
the country.
structures needed for integration of the
mobility solution.
Aman shared that this lockdown will
have multiple consequences and lead to
more troubles like reverse migration,
disruption of supply chains, amongst
others. This will more than just affect the
construction and engineering sector but
cause many adverse hazards. The various
restrictions imposed by the government
will lead to a shortage of raw material
and manpower, disrupted supply chain,
further creating handicaps in the
performing contractual obligations. He
further said, “Some elements in
construction and engineering are
imported from countries, which may be
development of the company's short-
term and long-term strategies and
evaluates the work of other executive
leaders within the company. He further
monitors the risk and ensures they are
monitored and minimized. Aman
constantly keeps himself updated with
the competitive market landscape and
expansion opportunities which have
benefitted in making Gilco Global one of
the leading mobility solution providers.
Gilco Global, an Indian arm of European
elevator major Orona Group, has taken
over the market in big time. It
specializes in the field of mobility
solutions for a variety of applications
including elevators, escalators, moving
walks, etc. and solutions for the aviation
sector including automatic baggage
handling system, gate seating, and
specialized equipment for ground
handling. “We are committed to sincere
business and customer's satisfaction with
strategic alliances with leading solution
providers from Europe,” said Aman.
The ability to customize every solution
according to the client requirements is
one of the key highlights of Gilco
Global. In addition to the comprehensive
solutions supplied by the company, it has
the capability and proven references of
supporting the customers in integrating
the mobility solution in the
premises/institutions because of the
expertise of the leaders' know-how in
designing and execution of civil
Specializing in Comprehensive
Mobility Solutions
Market leader in the Mobility
solutions Industry
GILCO GLOBAL
PROMINENT ENTREPRENEURS FIGHTING PANDEMIC
20

more badly affected, creating a domino
effect on the entire sector.” However, he
advised that to safeguard against the
inevitable, one can adopt corrective
measures in time. “The first step is to
evaluate the contract clause(s) to
ascertain the extent of liabilities upon
breach and the last step is to proactively
adopt all measures to mitigate the
liability by timely invoking the correct
legal doctrine(s),” concluded Aman.
Adoption of Preventive Measures
Despite Spain being one of the badly
affected countries, the factory located at
Hernani, Gipuzkoa near San Sebastian
was not shut not even for a single day.
The steps undertaken by Aman and his
team have helped them work smoothly
amid the crisis. They have adopted strict
measures to prevent any spread of
COVID-19 within the factory. The
people with symptoms were asked to
stay at home, and only limited numbers
of people were allowed in the factory,
following the social distancing. Also, no
visitors were allowed in the factory, only
the employees with a permit were
allowed to enter. Furthermore, periodic
sanitization, staggering of lunch hours
for workers are being strictly
maintained. Apart from this, our factory
relies on a lot of automatic processes (a
number of processes are automatically
performed by the use of robots, etc) thus
limiting the number of the workforce
needed to run the factory.
Overcoming the Unannounced
Challenges
work more pleasant. Furthermore, the
company was the first to take the
COVID group Mediclaim policy. Also, it
has been organizing team-building
activities through video conferencing
between multiple teams to keep them
motivated and engaged and also used to
provide safety talks to make the team
members aware of the precautions to be
taken to protect them from COVID-19.
To summarize, Aman has emphasized
the focus of the company on to ensure
the welfare of the workers and that Gilco
Global is with them and their families.
The year 2020 may have started with a
rough start for the industry with the
unannounced challenges not coming to
an end. However, the year has not halted
the success of Gilco Global as it has
already secured more orders against the
previous year and is striving to deliver
the same. The company has had a run of
successful 6 years in India, following the
same Aman asserts, “We are focused on
delivering the best to the clients to
ensure that 2020 doesn't pull the brakes
on our growth run in India.” Due to its
product quality through the complete
installations, Gilco Global is gaining
popularity and securing continuous
referrals in addition to other initiatives
from the marketing team.
Business reputations are built and lost
during the times of crisis. Companies
treating their employees well in time of
hardship enhance their reputations as an
employer and help build a loyal
workforce.
Aman states that “we value our people
the most”; who are nothing but the
company when put together. Gilco
Global has always laid emphasis on
improving the work conditions through
various initiatives in order to make life at
In addition to this, the work in India was
staggered and was continuously
monitored. “We were continuously
rendering support to hospitals where our
lifts are installed; we were also keeping
a check on our installations remotely
through our people who were working
from home during the lockdown,” added
Aman. Due to the new guidelines
imposed by the government of India, the
team renewed the operations completely.
The preventive measures are being
followed at the offices & the job sites to
maintain the set of guidelines defined
under MHA for the establishments in
India.
Emphasis on the Workforce
Where layoffs have been a telltale of the
business community, Gilco Global has
not laid off anybody but hired some
additional workforce and given
incentives to workers that were in line of
duty during the lockdown.
MESSAGE FOR THE READERS
Emphasis on the welfare of the
people and soon we shall come
out of this situation stronger
together.
Aman Moudgil, General Director, GILCO GLOBAL
21

The current IT landscape is
evolving more rapidly than
ever. In the wake of the
pandemic, organizations in every
industry and region are recognizing
the need for a digital core to meet the
current business needs. Despite the
world being highly impacted by the
pandemic, Christopher Carter
(Founder & CEO at Approyo)
believes that businesses still must
continue to course without any halt.
The preparation and planning in the
background should continue to go on
regardless of the situation. “The
systems and applications we provide
are essential to any business,
therefore Approyo has continued to
have a steady business throughout
Covid-19,” affirms Christopher.
Presently, many businesses have
witnessed a shift and due to this more
and more executives are reaching out
to learn about their options when it
comes to ERP systems. Approyo has
been active in offering assistance to
the companies by providing a 6
month grace period on the cost to
help every new customer with the
cash flow. “We feel their pain and
Christopher adds, “Our global team
of SAP experts provide 24/7 SAP
Basis support to our customers and
partners with any problems or
requests they face.”
Due to the crisis, the business
operations have been altered.
However, Approyo is amongst the
essential business and thus is
continually moving forward. There
have been changes in the way the
teams operate but the services are
functional 24/7. As regards to the
preventive measures against the
virus, Christopher has given the
employees the option to work from
home or working from the office in
the headquarters of Brookfield.
services such as Full SAP
management and support to
companies running or wanting to run
SAP in the cloud, in a data center, or
on a small scale. It also caters to
companies running SAP by providing
implementations, migrations, and
upgrades to SAP applications such as
SAP HANA, SAP S/4HANA, SAP
Leonardo, etc.
Approyo is a Global Managed
Solutions Provider, working in the
SAP industry space. It provides SAP
solutions as a service globally to all
companies in all industries. The
company specializes in providing
Delivering Uninterrupted Services
Christopher has been a tech
enthusiast from a very young age,
and this is what has transpired into
his career. Soon after his graduation,
he started working on SAP. Being a
veteran in the industry, he has
experience working for and owning
multiple companies in the SAP
industry. Back then, the creation of
SAP HANA was rumored to be a
successful tool that attracted
Christopher back to the industry.
Thus, shortly after retirement, he
leveraged this experience to establish
Approyo.
“There was a lack of Solutions
Providers, and I saw this as a huge
opportunity to help businesses
succeed, which has always been a
part of my dream,” said Christopher.
want to help them,” adds Christopher.
Crafting A Benchmark In
The SAP Industry
CHRISTOPHER CARTER
22

Christopher proudly asserts, “My
executive team is incredible, it is so
Being the founder of Approyo,
Christopher has to oversee the entire
company. With time his
responsibilities have inclined more
towards the sales side. He leads the
executive team and is actively in
contact with customers and partners.
Christopher emphasizes on hiring the
best professionals in the industry.
These skilled professionals make up
the team of Approyo.
Even in the office premises, cleaning
crews are coming to disinfect
everything in order to ensure the
safety of the employees. Also, social
distancing is being equally practiced
and as a measure, the meetings have
been switched to a virtual meeting
rather than in-person with the staff,
customers, or partners. The team of
Approyo is determined to work and
provide the services efficiently and
effectively around the globe.
Incredible Team of Professionals
problem, viz. the customers' SAP
landscapes will spend less time
dealing with problem-solving, and
instead, experience future success.
“With all the craziness that is going
on in the world today, our main goal,
simply put, is to help other
businesses continue to grow,
improve, and survive this pandemic,”
asserts Christopher.
The halt of industries might have
dispirited few of the aspirants but
Christopher advises them not to be
disheartened and push forward. It is
important to be updated with
technological advancements and be
innovative to persist in the ERP
industry. He suggests that employing
the latest tools and technologies can
put one ahead of the competition.
“No matter what industry you are in,
technology is your friend, and will
help you improve in the future, so use
it to your advantage,” concludes
Christopher.
good that I can be an umbrella and
hold back the rain while they grow to
success.”
The COVID-19 crisis has created
room for several opportunities for
entrepreneurs. This has caused a
rapid digital transformation
throughout the industries. Approyo
too has added Artificial Intelligence
capabilities to its services portfolio.
This tool will allow the team to find
issues before they can even become a
Christopher allows the employees to
run their area without any
interruption and reviews the progress
every week. He highlights the fact
that each employee is equally
passionate and shares the same drive
as him that makes them work a little
hard towards success. Also, the
culture inside the office is very casual
to ensure that the hard-working
individuals have fun whilst working
and at the same time keep the
customers satisfied.
Utilizing the Technological
Advancements
Christopher Carter, Founder & CEO, Approyo
The fact is that although the world has
been greatly affected by the pandemic,
businesses still must continue to run,
whether their doors are physically open
or not. That is what makes Enterprise
Resource Planning Systems essential to
business success.
23

during
Embracing Open
CORONAVIRUS PANDEMIC
This distributed, decentralized, and participatory way of
innovation is also known as open innovation. Though it
has proliferated over the past few months, it has massive
potential regardless of the crisis. It helps organizations
create value, be it through new partners with
complementary skills, or by unlocking the hidden potential
in long lasting-relationships. Open innovation can help
organizations ﬁnd new ways to solve problems and serves
as a foundation for future collaborations. Companies can
leverage open innovation during the pandemic as well as
after the pandemic. Here's how companies can combat the
challenges in open innovation and embrace it in a better
way.
Overlook the Intellectual Property Concerns
According to a research, many companies are extremely
concerned about intellectual property infringement from
collaborations with outsiders. Thus, instead of the
The COVID-19 pandemic has turned out to be one
of the most disastrous disease outbreaks in recent
years. Having severely impacted several industry
verticals, the pandemic has changed the market scenario
altogether. As the customer needs and priorities are
changing—makers, startup founders, entrepreneurs, and
researchers are also inclining towards solving problems
related to the pandemic and prepare for any in the future.
Along with the challenges, the pandemic has also brought
numerous opportunities and several companies and new
innovators are coming together to make the most of these
opportunities. Companies are putting the ability to create
value before the opportunity to make a buck and
encouraging innovation during coronavirus.
Though these concerns
are important, they risk
by blocking innovations
during coronavirus from
gaining momentum. However, to
thrive in these times, companies
have to emphasize on creating value
than capturing it. Smart companies take
brave decisions by collaborating on important issues
without risking negative exposure. For instance, several
manufacturing companies are collaborating with ventilator
manufacturers to help them increase their production. This
collaboration doesn't risk the core technological assets of
the manufacturing companies; instead, they are
contributing to a noble cause to combat the pandemic.
important business issues, they
tend to collaborate on a few
peripheral tasks. Moreover,
due to future patenting
concerns, some of these
companies make it
practically impossible
for their open
innovation partners
to provide help and
advice by not
revealing their
critical problems.
As a result,
oftentimes
innovation
partnerships slip into
irrelevance.
24
FOSTERING INNOVATIONS

Voluntary and active participation of employees and
partners is needed for companies to successfully deploy
open innovation. As the traditional means of command and
control have a little reach, companies should focus on a
combination of hard and soft incentives to motivate
internal and external collaborators. They need to identify
and respond to their partners' true motivation. A research
demonstrates multiple kinds of motivations among
developers. Some developers are motivated to share their
codes freely while some are driven by strong ethical
concerns and oppose any move to develop
software that cannot be inspected,
modified, and shared. Moreover,
some companies are motivated to
donate time and resources as a
means to access
complementary skills and
assets. Blending all these
motivations together
might seem easy in the
initial stages of the
collaboration viz.
responding to the
pandemic, however,
companies should
not expect the
collaboration to be as
smooth after the
pandemic. They
should put their work
ahead of time to
discover and make the
most of their partners'
motivation.
Appreciate New Partners
Motivate Internal and External Collaborators
Dealing with new partners is one of the
major challenges of open innovation. New
partners often encompass cost in terms of search,
validation, and compliance, as well as forming new social
relationships between people. However, new partners are
necessary to provide complementary skills and perspective
especially in tricky times like these. The pandemic though
has mitigated these challenges in two ways. On one hand,
the top management has assumed a significant risk
associated with new partners, by sending strong messages
that open innovation is the way to go.
While on the other hand, the pool of potential partners has
grown exponentially with the spread of the pandemic.
Companies that are hard hit by the crisis are looking for
new ways to conduct business. The crisis has prompted
companies to explore a greater number and new kinds of
partners. Hence, an evenhanded attitude towards new
partners after the pandemic can help companies thrive and
stay on the top.
Many companies are utilizing the opportunity provided by
the pandemic to rethink their innovation infrastructure.
For instance, the education sector is setting the benchmark
for the successful implementation of open innovation on a
grand scale. Many of the institutions were suddenly told
that they had to shift their classes to digital and much was
left for individual teachers to figure out. However, the
academics across the globe have been collaborating,
sharing tips, tricks, teaching plans, and experiences to turn
the slow-paced, uphill task into an agile digital sprinter.
This shows that a strong commitment to change can
overcome the biggest barriers to innovation.
To conclude, the world's response to the COVID-19
pandemic has shown that a truly shared experience of a
common enemy can unlock the speed, strength, and
creativity needed to combat even the biggest challenges.
Moreover, innovations during coronavirus have resulted in
the shift towards open innovation that seems promising,
however, companies have to persist with it even after the
pandemic. Instead of preparing to get back to the old
normal, companies should ensure flexibility of operations
and embrace the new normal.
Recognize the Transformational Challenges
For open innovation before the pandemic, the initial steps
were relatively simple, viz—hire some consultants,
organize an innovation tournament, and wait for the ideas
to come. However, despite following these steps, the
results were meager. These initiatives are not sufficient for
successful innovations during pandemic. Companies need
to recognize the transformational challenges ahead and
should be aware of the operational and structural changes
to how the business is done. Though these changes are
difficult for any employee, team, or business, they are
extremely important.
25

Your Needs...
Our AnalysisProposal, Design, Development, Testing & Delivery

Moreover, to keep up with the
market trends and predict them,
Mohamed pursued a diploma in
Marketing from the American
University in Cairo and a diploma in
The unprecedented impact of
the pandemic has caused
many hazards in the
business scenario. Every business
platform witnessed a rapid digital
transformation. Times like this
demand competent leadership to
help get through the tough phase.
One such leader is Mohamed
Saieed, CEO of Potensia Systems.
He is not only remarkably tackling
the challenges of the pandemic, but
also delivering its clients with
excellent IT solutions. Mohamed is a
self-committed person who had a
keen interest in technology from a
very young age. With years passing,
his passion grew as he started
reading and self-learning, and he
decided to pursue his passion. He
completed his education in
Computer Science at Swansea
University, and later to add to the
skillset he pursued an MBA.
Mohamed understands that the
companies will see a significant
slowdown in growth during this
financial year as they grapple with
the upheaval wrought by the
COVID-19 pandemic. In response to
the challenges posed by the
pandemic, he shared “We tried to
think out-of-the-box to provide
unique solutions to our clients.”
Mohamed and his team are
introducing initiatives like the
sanitizing gates, thermal cameras,
smart helmets, virtual meeting
rooms, and e-signature solutions.
and know-how to deliver excellent
outcomes for the clients. These
bouquets of solutions include Smart
Cities and Data Centers for
Government, Smart Solutions, and
Cyber Security along with ELV
systems. Potensia Systems helps
businesses to respond quickly to
their technology requirements and
build the necessary IT infrastructure
designed to protect people, property,
and information. This helps to
support the long-term growth of the
business.
Potensia Systems is able to
implement solutions globally and
offers bespoke high-end technology
solutions for companies around the
world. Its integrated solutions for
businesses combine the latest
products with its team's expertise
Artificial Intelligence from Oxford.
He has a distinct perspective for the
entrepreneurial life and says, “When
you're your own boss, it's very
different from working for someone
else—as you'll be working towards
your dream and passion. You'll be
learning something new every day,
and it's not only on the business side
but also on the personal side.” He is
the co-founder of several companies
and Potensia Systems is one of the
dearests to his heart.
Unique Bouquet of Solutions
Based in UAE, Potensia Systems is
a system integrator that designs and
deploys industry-specific technology
and streamline business operations
through the portfolios of solutions,
managed services and consultancy.
A Self-Committed Entrepreneur
Remarkably Tackling The Challenges
Of Crisis
MOHAMED SAIEED
28

Combating With the Pandemic
Welfare of Employees Is Priority
Mohamed states that the team is
Potensia Systems' greatest asset. He
says, “We are all one team one
family and that's our key to
success—together we will make it
happen.” It is a challenging time to
serve clients. Despite the changes in
the business scenario the team is
striving to provide the best within a
healthy way. Keeping in line with
the current business scenario
Potensia Systems has updated the
workflow systems and the team has
adapted to this changing
environment very quickly. The team
is motivated to be usable and
accessible to the clients without any
interruption. For this, the team has
shaped a robust action plan and has
implemented specific precautions for
the IT Operations and Development
teams to ensure continuity.
Mohamed shares that working
remotely is the safest course of
action during the pandemic. “While
It is assumed that the pandemic will
leave the world with many startling
challenges and life after COVID-19
will not be the same as before.
Mohamed anticipates that the
normal new world strategy will be
implemented, and advices to change
the mindsets and adapt to the new
changes.
Mohamed is optimistic that the crisis
will not bring Potensia Systems
services to a halt. He and his team
are prepared to deliver the best
outcomes and walk successfully out
of these times of uncertainty. Amid
crisis, the team of Potensia Systems
has changed the logistics,
transportation, supply chain,
purchasing, and workflow. He
further shares, “Technology has
helped us to serve our clients either
on maintaining their business
running and providing solutions that
could help in identifying unnormal
human temperature and sanitizing
solutions.”
Adopting the New Normal of
Industry
Thus, he has ensured the highest
safety and health standards.
this is the safest course of action
during the pandemic, it does inhibit
collaborative efforts and
opportunities for hands-on
training,” says Mohamed. He
anticipates that soon enough the
drawbacks of remote working will
become clearer for enterprises and
they will look for ways to smooth
disruptions for employees. Due to
this, technologies like VR will gain
popularity. Companies will be seen
adopting technologies like video
conferencing for smooth workflow
amongst the employees.
A business cannot survive without
people and taking care of their
welfare is the responsibility of the
leader. Mohamed apprehends that
COVID has fared to have adverse
mental and financial affects and
currently it is important to pay
attention to the employees and his
clients.
“This is a pivotal moment in our
history. Like many of you, I am
confident we will get through this.
When we do, we will look back with
pride on how we did so, together.
Please take care of yourself and your
loved ones.”
Mohamed Saieed, CEO, Potensia Systems
29

The global economic effects of
the pandemic have already
started taking shape, as we are
witnessing the markets tumble and
countries taking emergency actions to
respond. COVID19 is assured to have a
massive economic impact, and the
entrepreneurs are striving to mitigate
the risks coming their way. Most of the
leaders have welcomed the new normal
and adapted to the new global habits.
The effects of the pandemic have also
been encountered by the media and
entertainment industries. There has
been a major shortfall in revenue
events, lower spending on outdoor
events, and a decline in advertising
spending. However, Sam Daniel , the
Director and CEO, of Rachel & Sam
Media & Entertainment Private
Limited , has managed to find the
silver lining in these times. He noticed
that there has been a noticeable growth
in online media consumption. The
long-term impacts of coronavirus are
hard to predict but he contemplates that
the extent of disruption will depend
mostly on the type of content that
media companies produce and
distribute.
Sam Daniel reasons the media
consumption alterations that will be
caused due to the downsides of
pandemic and lists a few questions. For
instance, the film, TV, and video
hand, Sam Daniel has a reverse
thinking and focuses singularly on
delivering a simple solution to a
specific problem that people have. Sam
Daniel has been instrumental in the
corporate sector for more than two
decades. Being in the industry for more
than two decades, he found a keenness
to contribute as a leader. Sharing his
views on entrepreneurship, he said, “I
don't believe we have the right to call
ourselves entrepreneurs, whereas I
think of 'entrepreneur' as a state of
mind or being, with a slight disregard
for 'fear of the unknown' a title that is
then bestowed by others.”
Currently, Sam Daniel is the Director
and CEO of Rachel & Sam Media &
Entertainment Private Limited and is
striving to develop and expand the
business of the company in India and
abroad. His roles and responsibilities
are diverse, and under his leadership,
the company has continued to achieve
its milestone. Networking with other
business owners has helped Sam
Daniel in personal as well as company
growth. Apart from this, he also closely
pays attention to the customers and
their feedbacks which in turn aids in
enhancing the services. Moreover,
most of the leaders believe in
representing themselves as
'professional', although, Sam Daniel
witnessed that being real is what has
In the end, the most important role the
media and entertainment industry has
to play is to help slow down the spread
of the virus and keep people informed
and updated to stay safe. “With luck,
these disruptions will just be
temporary. Beyond this, the industry is
in uncharted waters,” concluded Sam
Daniel.
Distinctive Roles and
Responsibilities
Businesses have been established as
the solutions for the existing problems,
however, often people fail to focus on
building a business around other
people's actual needs. On the other
industries can only maintain output if
their physical operations are
maintained. Would you still subscribe
to Netflix or Zee5 or Hotstar if it
couldn't add new shows to its library?
Besides, in the news industry, many
companies have used live events as a
diversification strategy to offset
declines in print revenues with large-
scale events on a halt indefinitely, how
will that affect our news diets? Lastly,
if the sports stadiums are forced to
close their doors for the long term, they
could lose their allure to the
broadcasters. Would these competitions
be as good, or as popular, without the
live atmosphere that fans create?
Inspiring The World And Striving
To Create The Digital Future
RACHEL & SAM MEDIA &
ENTERTAINMENT PVT. LTD.
30

helped the company to take off. Being
responsible for distinctive roles
becomes exhausting after a while, thus,
Sam Daniel never neglects his yearly
vacations.
He further explains, “After
consecutively growing more than 100
percent year over year, my workaholic
nature burned me out. The enthusiasm
and unique POV I originally brought to
my company had faded because I
neglected to recharge.”
Pioneer and Innovator in the Media
Industry
Rachel & Sam Media & Entertainment
Private Limited is a pioneer and
innovator in the Indian media industry.
It has acquired, co-produced, and
distributed some of the most
recognized and successful media and
entertainment services in India. The
company specializes in religious
albums, media, advertisement, casting,
print media, events, promotion,
licensing and branding of corporate
brands in India and aboard, creativity,
film production, TV serials and
commercials across theatrical,
television and other formats. “Our
alone, thus the private sector must play
a key role. In the dawn of crisis, the
political leaders, financial institutions,
and global governance structures are
being severely tested. The many layers
of COVID19 crisis are unfolding,
which is also directing at several
opportunities.
Sam Daniel highlights the fact that
over the years employees and
consumers have rewarded the
businesses that use their powers for
good. Hence, companies that uphold
clear values to advance a bigger
societal mission regularly exhibit
stronger financial performance.
Some businesses can redeploy their
unique capabilities to meet society's
immediate needs, for instance, luxury
goods giant LVMH is producing hand
sanitizer in its perfume factories, for
use in French hospitals; Johnson &
Johnson has donated a million surgical
masks to Chinese health workers;
IKEA is helping to kit-out hospitals in
affected areas. As companies respond
to COVID-19, business leaders who
back moral statements with practical
action will stand out.
strategy is driven by the scale and
variety of our content and the global
exploitation of that content through
diverse channels,” asserts Sam Daniel.
The Indian media industry is on a high-
growth journey and by 2025 it is
predicted to double its economy. In
accordance with this, Rachel & Sam
Media & Entertainment Private
Limited aims to expand its operations
and double the success rate at the Sam
Daniel time. Sam Daniel understands
that the team will play an important
role to achieve this milestone. Due to
the pandemic, Sam Daniel is closely
paying attention to community
healthcare. Besides, he is also
empowering the team members and
creating a positive environment.
Sustaining and Overcoming the
Pandemic
Protecting employees and redeploying
their unique capabilities to meet
society's immediate needs could build
more loyal workforces and public
virtuous will while helping to fight a
global crisis. Sam Daniel is affirmative
that governments, central banks, and
the WHO will not defeat coronavirus
Promoting health and safety is
priority number one; next is trying
to mitigate the financial impact,
especially for staff on precarious
contracts.
Sam Daniel, Director & CEO
Rachel & Sam Media & Entertainment Private Limited
31

Due to the sudden impact of a
pandemic, the role of the strategy
consultants has become more vital.
Shrenik has been in the field for more
than a decade and has relevant
industry experience. Leveraging this
experience, he is using his expertise to
build business strategies for
With the world witnessing
the age of globalization
and complex supply
chains, the outbreak of pandemic is an
unprecedented situation for many
global businesses. The coronavirus
pandemic has led businesses into
uncertainty and disturbed the global
markets causing ultimate economic
impact. Businesses both big and small
are likely to feel the impact and
several may not even survive the
disruption. This has made the role of
the consulting industry more
important than ever. Where most of
the consulting firms' aid business
leaders with words, SN & Co.
believes in “Work speaks better than
words”. SN & Co. was established in
2008, by the co-founding partners
Shrenik Shah, Darshak Shah, and
Niki Shah. It was established with a
vision to help entrepreneurs expand
their business and enhance a new
perception combined with the
expertise of the team in the field of
strategic business development and
business structuring.
either turn around or seamless
organized structure.
A Skillful and Resilient Team
SN & Co. is a multi-disciplinary firm
of qualified Chartered Accountants
offering a wide spectrum of
professional services. It is based on a
Shrenik is swift in corporate relation-
building by delivering set output
within a timeframe to have a quality
competitive edge. He is highly
influenced by social cause and
initiated the activity of Senior Citizen
Food Services to the respective area.
Furthermore, Shrenik ensures that the
company's graph remains in the green
and achieves YOY growth. Apart
from being the leader at SN & Co.,
Shrenik also shares interests for
corporate retreat management and
implicit knowledge at hosting and
organizing corporate events like or
corporate quiz competitions with the
ideology of “Know what you Don't
and Prove What You Know”.
Moreover, these exercises are
entertaining and provide knowledge,
learning, and impactful company
future in order to enhance company
cultures and develop the team
bonding. In the wake of the crisis,
Shrenik also took care of the staff
safety and implemented work from
home concept largely.
development and business structuring.
Shrenik and his partners hold
exceptional skill sets that help the
firm to stay as the leading provider of
consultancy solutions and deliver
quality results with utmost customer
satisfaction. He further asserts, “Our
firm excels in providing quality
structuring to your business, having
development techniques backed by
experience from various areas.”
A Mainstay of Business Strategies
Shrenik is a finance graduate and
professionally Chartered Accountant
further he is a Certified Fraud
Examiner from US and Certified
Forensic Accountant from ICAI. His
enriched experience in NBFC Sector
has led him to be appointed as
Independent Director of one of the
Delhi based NBFC Company. His
theory of practicality and multiple
handling of the forensic assignments
has made him an eminent speaker at
various forums such as ubs at ICSI
along with various other forums. At
SN & Co., he leads business strategy
and solution practice and is the
backbone of Risk Advisory &
Forensic Services. Due to his nick for
deep-dive perspective approach,
Shrenik outlines innovative strategies
for problems with an emphasis on
implementation and monitoring along
with the impactful output of achieving
Outlining Business Strategies With
Deep Dive Perspective Approach
SHRENIK SHAH
34

strong foundation of values viz.
Integrity, Excellence, Commitment,
Ownership, Teamwork, and
Professionalism. These core values
have been embedded firmly since its
foundation. Over the 12 years of
foundation, there have been zero
salary cuts which have been a
motivating factor for the team.
Shrenik believes that transparency is
the key to build a strong team that
stays unruffled despite the tough
situation. This quality of transparency
is the reason behind the resilient team.
According to Shrenik, the consulting
Go Beyond Boundaries
“Today we have a resilient team with
more than 60 team members and
without any downsizing /retrenchment
in this situation which is a footstep
towards building a strong empire,”
said Shrenik. With its skilled team,
SN & Co. offers a range of
specialized services to its clients
enabling them to have a single
window for all their financial needs. It
is equipped with all the modern
infrastructures which provide each
member with easy access to clients
and vice versa.
Keeping the same zeal, Shrenik is
looking forward to the digital
transformation of services leveraging
modern-age technologies. In addition
to this, SN & Co. is looking forward
to expanding its footprint globally.
The year 2020 may not have resulted
as the anticipated start for many
companies, however many are
moving forward steering through the
challenges. It is the belief of being
opportunistic in this pandemic that
will result in opening up multiple
prospects for the company. In order to
sustain and overcome the impact of a
pandemic, Shrenik is implementing
continuous brainstorming sessions to
help the company in reviving and
growing at a reasonable pace. Also,
they are striving to apply standardized
approach while envisaging the
sustainability through the extensive in
detail study provided by the tool
PlaniFY.
Envisaging the sustainability
stage. “We are focused on going an
extra mile for delivering quality
services to our clients,” says Shrenik.
sector is equally impacted by the
pandemic. Currently, the biggest
challenge faced by the sector is
onboarding new clients and retaining
clients with agreed fees. However,
being optimistic about the same,
Shrenik says, “Every problem has an
End and the same is with this
pandemic which in my opinion will be
revived within 6-9 months'
timeframe.”
This pandemic has proved that
anticipating the problems ahead of
time can help solve many
complications. The team of SN & Co.
has anticipated the crisis problem and
evolved with the Crisis Management
Tool known as PlaniFY. This tool
will help to plan different scenarios
admeasuring changes in cash flow
position taking into consideration the
main pillar of business such as people,
vendors, and customers, and so on.
Apart from this, the crisis has resulted
in turning many platforms digital.
Thus, SN & Co. is looking forward to
digitizing the services likewise the
cloud-base server, CA dashboard-
tracking system. Furthermore, to add
value to the services, the team is
working on a couple of more tools
that are currently in the developing
“Work in local for global, and join
hands to make India strong with
Intramural Technology, Products,
Skills and Services.”
Shrenik Shah, Co-founder, SN & Co.
35

With the crisis upon us, the most logical step right now is to
act human and endeavor into humanitarian efforts. Many
billionaires have already stood up to their words and are
proving that it's possible to do well and do good at the same
time. A prime example is the videoconferencingZoom
company. Zoom's CEO, Eric Yuan, has offered free
accounts to any K-12 school that has had to shutter due to
The COVID-19 outbreak has wreaked havoc on the
increasingly chaotic world. Business and economic
crises cannot be as critical concerns as people's
lives. However, the business world is indeed stepping up to
address both the livelihood and lives. It is employment that
can assist individuals in paying their way through
healthcare or other necessities of life. Many entrepreneurs
are struggling to keep their companies afloat and employees
safe while combating the pandemic. On the other hand, few
entrepreneurs are searching for ways to help within their
communities and beyond. Not all businesses will indeed be
eligible to contribute in the same
way, as many have been
struggling on their own, but
there can be several ways
an entrepreneur can
contribute in this
time of needs.
COVID-19. This in-kind donation of service will allow
students to keep up with their academics without further
taxing school budgets. In addition to this, Microsoft
announced that they will keep paying the hourly workers
who support their campus. And established aGoogle
COVID-19 fund that enables all temporary staff and
vendors, globally, to take paid sick leave if they have
potential symptoms of COVID-19, or can't come into work
because they're quarantined.
36
GOOD SAMARITAN

The Three Vital 'Whats' To Ask
1. What We Do ?
Entrepreneurs have been highly involving themselves in
philanthropic activities as a way to give back to the
community. Not everyone can support philanthropic
endeavors but there are several creative ways that may help
even small companies to contribute in times of need. A
director of the social impact at the Kellogg School,
Meghan Kashner, highlighted the three important
questions a leader can ask himself in order to help in
ingenious ways that almost any company can be of use to
those in need.
What is your core business and how can that be of
use to the community? As mentioned above,
Zoom's free video conferencing service for
schools can be listed in this category.
Though entrepreneurs do not
need to make enormous
initiatives to help
others. Little
Likewise, several newspapers across the world are placing
an article about the pandemic beyond their paywalls
for the duration of the crisis.
Also, several media platforms are stepping forward by
assisting the non-proﬁts in making a public-health-related
announcement for free during the COVID-19 outbreak. By
leveraging their core competencies and services to make
paddling through this crisis easier for the ones in the
frontline.
assistance can also go for a long way, consider Disney
Plus's decision to stream Frozen 2 three months before
schedule as a gift to parents restricted at home with their
kids.
37

Even as a smaller business, entrepreneurs can use creative
measures to avoid the halt in business as well as give back
to the community. As an example, the breakfast and lunch
café at Chicago, Baker Miller, has teamed up with the local
chefs that are facing high uncertainty to create gourmet
take-out dinners. By expanding beyond its normal hours
and normal employees, Baker-Miller us able to help others
in the network of local restaurants.
The current crisis may mean scarcer business for some
companies right now, this leading to reduced ways to lend
people or products to other organizations, but what could
you be doing with your resources to help?
3. What Could You Do?
2. What Do We Have?
Kashner also highlights that the charitable foundations have
also enacted meaningful changes to help their grant
recipients by relaxing grant rules and procedures. For
instance, in a different approach, the Eisner Foundation
has said that any of its grants can be converted to general
operating money. They said, if you have a grant from us
now and it is for a specific program, forget it. It can now
function as a general operating grant. You, the non-profit
leader, you decide what you need to use it for.
Business leaders think about what resources they have that
could be of use elsewhere. Do they have money, expertise,
facilities, people, or inventory to share with community
organizations?
Currently, there was a major shortage of sanitizers globally.
As heed to this challenge, several small distilleries are
converting part of their operations to manufacturing hand
sanitizer—even though in extremely short supply. Many are
giving it away and are focusing on supplying healthcare
workers and first responders. This means to produce
something that feels a bit adjacent to the core business but
would aid others in the community.
Entrepreneurs have to focus on their assets and use them
wisely to ensure prolific results.
There can be numerous strategies like assisting small
business or non-profit that maybe scrambling amid crisis.
Or with the guidance of the finance team draw a plan to
help another organization figure out how to best make
payroll or prioritize accounts. The entrepreneurs should
look beyond geographical demographics to help
communities.
World Needs to Act Promptly
Methodologies like this will not only ensure business
continuity but also offer employment in this time of
uncertainty.
While helping others survive the crisis entrepreneurs must
not forget their own business. In addition to looking
outward, companies that are focused on their own
employees are often also helping their communities. One of
the best things that these businesses can do for their
communities is to remain a viable business—remain an
employer.
The COVID-19 outbreak has increased worldwide
exceeding a count of 13 million plus by far. This pandemic
has drastically affected America, where the number
accounts for 30% of the global cases.
Professionals believe that resurgence of the
virus is highly dependent on two
unknowns,
Ÿ Inherent characteristics of the
virus i.e. infection mortality
rate and duration of
immunity
Ÿ Countries' response to
the virus
On the economic
outlook, globally,
executives believe that
economic recovery
will be bumpy and
slow. However, success
is possible for the
organizations
successfully adapting
fast to the new
circumstances and
following key practices
such as rewiring ways of
working, reimaging
organizational structure, and
readapting talent. The business
leaders must understand the
COVID-19 impact and how it will
further affect the business. They must be
equipped with steps to protect their
employees, customers, supply chains, and
38
GOOD SAMARITAN

Ÿ An Altered Workforce
B2B purchasers and consumers are accelerating the
adoption of digital. Non- discretionary spending is
recovering however, discretionary spending remains low.
Many companies have achieved a successful transition to
remote work. This has shifted the demand for labor
and there is a strong need for
reskilling.
financial results.
Apart from this, there are other forces shaping the new
normal,
Ÿ Metamorphosis Of Demand
The pandemic is first and foremost, a global humanitarian
challenge. Apart from the economic downfall, there are
many other challenges to encounter. The COVID outbreak
has further spurred the anxiety and negativity around people
and in times like this helping each other is becoming more
vital. Facilitating and being of service to others is a positive
way to counter the negativity surrounding everyone. A little
act of kindness can go a long way, thus, the entrepreneurs
must become leaders and look around for steps that can
help during this challenging time for the world.
Despite the public health realities, economies are
reopening. Consequently, the understanding of the virus
continues to grow with new studies on testing, transition,
and treatment arising each day. Following this, there are
constant changes in the set of safety interventions to protect
citizens. To survive in the new normal, it is important for
the companies to understand and explicitly address the
aforementioned forces.
The distribution of COVID-19 stimulus packages has
created unprecedented uncertainty. This has led to further
growing pressure for new regulations and legislation to
favor and 'protect' domestic economic activity.
Ÿ Changes in Resiliency Expectations
Global Humanitarian Challenge
COVID-19 has highlighted the historical supply chain
disruption and companies are choosing to increase supply
chain resilience. Companies are leveraging several tools to
increase resiliency such as assets divestments, SKU
rationalization.
To summarize, as per the recent significant disasters like the
2003 SARS pandemic, the 2004 Indian Ocean tsunami, and
2013 Typhoon Haiyan, the wide-ranging disaster relief and
humanitarian community has focused mostly on the
response, with diminutive attention or resources devoted to
prevention and awareness. Presently, there are thousands of
health professionals who are heroically battling the virus
whilst working on the frontline. Governments and industry
are working together to understand and address the
challenge, support the victims and their families and
communities, along with continuously researching for
treatments and a vaccine.
Ÿ Regulatory Uncertainty
Ÿ Evolution of Virus
39

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