TS Darbari Blog: What Covid-19 has taught us?
According to TS Darbari, “The pandemic, like some efficient teacher, has taught us numerous lessons.” TS Darbari says that among the most obvious pandemic takeaways: workplaces will never be the same, and companies that want to lure workers back in will have to dangle more than a sterile “cube farm” and lukewarm office coffee. But for tenants, it’s not obvious how the future will play out in their office spaces, so owner/operators must take the lead, offering more flexible leasing models, redesigning layouts to accommodate hybrid work, and supplying a “wow factor.”
TS Darbari adds that the pandemic gave many business leaders practice in thinking about an external issue as a core concern. Stakeholder capitalism, similarly, asks business leaders to define their mission as creating long-term value not only for shareholders but also for customers, suppliers, employees, communities, and others. Making stakeholder capitalism work requires five steps, including identifying stakeholders, defining ways to serve them, and committing to a long-term outlook.
Private markets experienced a year of disruption, starting with a “COVID correction” in the second quarter and followed by a K-shaped recovery that favored private equity and left real estate lagging.
TS Darbari says that Covid-19 has fostered a wave of innovation, both positive and negative, in the world of entrepreneurship. Researchers and entrepreneurs dedicate their lives to create a future for consumers and organizations.
While entrepreneurs are optimistic and resilient, the pandemic will require them to shift their business approach for decades to come. Although some businesses may have plummeted, other elements surrounding the pandemic will build the next generation of entrepreneurs.
Economic decline
While Covid has drastically affected the elderly population, it has also shocked the global economy. Before Covid, there were 158 million Americans that were employed. Many people may not be actively seeking employment due to social distancing measures. Nonetheless, over 30 million Americans currently do not have a job.
Another economic issue we have seen over the past several months is the supply chain for goods and services. Most of our components come from China, where the flow of materials is significantly affected by the pandemic. A shortage of supplies has shocked our economy and may have long-term effects.
Positive aspects of the economy during and post-Covid
Could there be positive outcomes for society and the business world during and post-Covid? Indeed, most of which is happening right before our eyes.
The need for people to remain connected is crucial during a time of crisis. Businesses around the world have come together to serve their community like never before. Despite physical distancing measures, entrepreneurs have discovered solutions to the issues surrounding the pandemic. Business leaders, researchers, and scientists have found a way to foster connectedness even through great tragedy.
Distilleries have manufactured sanitizers for healthcare workers. Fashion designers have created personal protective equipment (PPE), such as gowns and masks. Individuals have organized fundraising sites for those who are struggling or out of a job. The outpour of cooperation and assistance since the start of the pandemic is nothing short of miraculous.
Remote work has become the new norm, allowing people to work from the comfort of their own home. The adaptability seen from organizations that managed to migrate to a virtual setup within a matter of days has been remarkable.
A push in technology has also provided a way to maintain social connectivity. Meetings have been replaced with virtual forms of communication, such as Skype and Zoom.
But, will the pandemic increase the rate of entrepreneurship?
TS Darbari mentions that creative problem-solvers have jumped to help, and that certainly is an entrepreneurial impulse. And some of those efforts will result in business creation.”
Sales in companies such as Uber Eats, Door Dash, and Chewy.com have skyrocketed, providing jobs for those who may be struggling. Other major technology companies such as Google, Apple, and Amazon have accelerated the use of online interfaces, also providing jobs to those who may be unemployed or looking for a second job.
Ultimately, young entrepreneurs, today have been faced with a new reality that will shape them into resiliency. Successful companies like Airbnb, Slack, Venmo, and Square all originated as a result of the 2008 economic recession. Perhaps we will see the birth of more life-changing organizations due to our current pandemic.
The next generation of entrepreneurs
TS Darbari says that entrepreneurs are people who recognize and act on opportunities to promote positive social change. The pandemic facilitated entirely new categories of business, some resulting in business creation altogether. Organizations that choose to capitalize on circumstantial changes will succeed, and the ones that don’t will get disrupted.
Who is TS Darbari?
TS Darbari is a top management professional, with several years of rich & diversified experience in Corporate Strategy, New Business Development, Sales & Marketing, Commercial Operations, Project Management, Financial Management and Strategic Alliances.
