6 Things your Business in Abu Dhabi need to do after the Coronavirus Crisis

The novel coronavirus is now the major talk of the world. It dominates global media coverage, political debates, social media, and the topic for chit chats over the phone. Over the past couple of weeks, with a rise in virus cases in major economies, a sharp drop in UAE stock markets reported. 

In the UAE business world, we've already seen some big global events canceled, oil prices dropped, commercial launches postponed and business travel cut back.  Data intelligence companies have already estimated that cancellations cost the events industry some $500 million.

As governments, businesses, and NGOs try to mitigate the diverse risks they’re facing; this pandemic may be a good reminder that we can’t take anything for granted. And that times of duress is perhaps the most pertinent to start getting ready for the next crisis. It's the time you need to start preparing rather than lost in anguish. 

1. Get ahead of the game

Every crisis offers you some opportunity to improve and overcome with new strategies. You need to fix it before it breaks. 

Takes decisive measures to restructure and reorganize your business in Abu Dhabi. 

Every responsible person in your organization or everyone involved in your business should take their role seriously and contribute to help keep your business relevant.

It is now the best time for governments, companies, and organizations to start thinking about the day after and how best they can be prepared for the next crisis. 

2. Prepare a recovery plan 

Every crisis will have an endpoint, but, what is important is whether we're ready to face another crisis? 

As a Business in the UAE or based in Abu Dhabi you need to be ready to pick up signals from the market for when it’s time to switch to recovery mode. Time and agility are key to maintain your market share.  

When you think you're ready to resume operations, ask yourself these questions: 

• What are the new market conditions?

• Am I ready to resume operations as usual? 

• How much time will I need to get into the normal routine? 

• Which are the areas or the activities do I need to improve? 

• What are the precautionary measures I need to take immediately?

• Does my business need a technology update?

• Are my employees prepared to face any crisis in the future?

3. Look for measures to mitigate the crisis

Soon after or before the crisis is over, you need to start looking for measures to enable your facilities to remain available or, restart quickly after the crisis. This applies to all the industries. 

Start looking for potential indicators of uptake of demand and the implications for your supply chain and beneficiaries. 

Start looking for measures to improve your process and procedures. If you run a manufacturing business, start to fill your supply chains and organise the necessary workforce.

4. Conduct an Internal and External Communication Audit

If you haven't implemented any particular communication strategy for your business or already have a communication strategy in place, it's time to analyze it. 

Run an internal and external audit on existing communication protocols and test them to see how it would respond during a major crisis scenario. 

If your communication strategy is not right it could potentially afflict your industry or domain.

5. Incorporate a tailored crisis response manual

If your business didn't have a crisis response manual it's time to develop a bespoke crisis preparedness and response manual. If you already have one, update it. 

When you do it, take into account your organisation’s/businesses specific nature. 

Also, incorporate tailored strategies to efficiently shield your business from crisis threats and protect hard-earned reputational capital.

6. Training for Timely Response

Communication is key, especially in times of crisis. Communicate with your various stakeholders to maintain and build trust, efficiency, transparency and empathy. 

So, instead of putting off all communications decisions until 'tomorrow' when the situation may be clearer, take action to make sure your communications don't say all the wrong things to the people that your business cares most about.

Train senior leadership to be able to communicate, engage, and perhaps even provide more value to your customers, partners, stakeholders, and even employees in light of ongoing changes. 

Try to manage the frequency of your communications carefully so as to avoid big gaps. If necessary, give them Corporate Training to bridge the gap.