A new survey by Gartner shows only 12% of organizations felt prepared for the impact of the coronavirus outbreak in March. And while 26% of those surveyed believe the coronavirus will have little or no impact on their business, just 2% of companies believe they can continue business as usual.
An unlikely health and safety pandemic has thrown the world into a tailspin. Regulatory changes related to COVID-19 are already touching all facets of the industry. They are likely to continue to evolve at a brisk pace, making it difficult for some employers to keep up. Although it would have been impossible for any company to be fully prepared for such low probability, the companies that put health and safety at the forefront of their efforts have found themselves in a much better position to respond.
The entire world is watching aghast as our nation continues to struggle with its COVID-19 response, where our broken supply chain cannot supply medical workers with enough masks and face shields to keep them reasonably healthy. The pandemic has exposed inadequacies and vulnerabilities in supply chains that were supposed to provide the much-needed supplies in the healthcare system. But life-threatening shortages are reported daily. COVID-19 testing kits and nasal swabs, lab processing chemicals, hand sanitizer and ventilators are in desperately short supply.
Risk optimization and mitigation are essential within any Global Business Services (GBS) environment to proactively protect the enterprise from potential threats and enable confident business decisions. COVID-19 has uncovered previously unknown vulnerabilities, which left business leaders and board members scrambling for solutions to plot a course to stabilization.
There were two stories in recent news that grabbed my attention. All across the country, food banks are overwhelmed with demand. Families in desperate need waited for hours for a week’s worth of supplies over Easter weekend, with lines of cars stretching for miles. The demand outstretched many facilities’ ability to fulfill, with some leaving empty-handed, or with less than they need.
The COVID-19 crisis has brought us to a moment of reckoning. Today, it’s clear that the world’s most pressing challenges can’t be solved by governments alone. Society is turning to businesses to help with critical issues like access to food, health services and supplies, educational materials and economic support.