The impact that a pandemic has on individuals psychologically, socially, and financially can be devastating. Understanding past pandemics and their adverse effects on people’s lives, as well as the economy, can help us learn from these past events.
You can survive the pandemic by avoiding making the same mistakes made in the past. You can also come out sane by adopting some of the preventative measures taken in the past and adopting the right attitudes and reflexes.
One example of a global pandemic that had devastating impacts on the economy and people’s lives, in general, is the 1918 Spanish flu. Many lessons can be drawn from the global pandemic that had severe economic and psychological consequences on businesses and individuals.
Here bellow find out some lessons we can learn from other experiences
The importance of containment
During a pandemic, the number one priority for health professionals should be controlling the spread of an epidemic. Everyone in the health sector understands this, and that is why there are containment rules in place.
Rules or instructions given should be obeyed to prevent panicking as well as further complications. Staying at home, refraining from certain activities, using certain products, and self-isolating are some of the most important instructions that must be observed.
The main reason why most people died from the 1918 Spanish flu is the same reason that is likely to cause more deaths in any other global pandemic. Many deaths were caused by the virus spreading from people to people in confined spaces or in large gatherings. This mainly happens because people refuse to avoid large gatherings, and they also refuse to self-quarantine properly.
The need for businesses to prepare for the impact of the pandemic
The consequences that the Spanish flu had included labor shortages and increased rates of physical disability, among other things. Most effects rose from the panic surrounding the virus. The panicking also worsened as businesses were temporarily closed, public gatherings banned, and sporting events canceled. Luckily, we can avoid going down the same route and facing similar consequences. Knowing and preparing for the economic consequences of a pandemic can help minimize the impact that the virus has. It can also aid in helping you remain sane during the pandemic.
Closing businesses during the period of self-isolation, which normally lasts for 14 days or more, will doubtlessly have a toll on the economy. Nonetheless, preparing in advance for the negative economic and psychological impact will help in recovering more rapidly.
Taking and implamenting business advice from experts helps keep your business afloat
One major concern that most businesses and freelancers have during a pandemic is how to keep business processes flowing. Fortunately, there are steps that you can take to continue operating your business or even venture into new business ideas. Expert advice can help you retain your sanity and keep your business going in a pandemic. Expert billionaire entrepreneurs are offering their expert advice on social media.
American billionaire entrepreneur Mark Cuban for example has given valuable business advice on LinkedIn. You can go ahead and check it out. Mark Cuban provides some of the tips for keeping your professional life going. These include:
- Reaching out to potential clients as well as trying new business ideas.
- If you cannot carry out some of the work you do at the office while at home you can always try getting a new job by finding potential clients or opportunities.
- You can also start perfecting work or working on neglected work as well as unfinished work.
The billionaire entrepreneur also advises that you try out new ideas, for example, begin offering other services apart from the leading service you provide if you can.
Prepare for a business continuity plan
It is of utmost importance that a business puts in place a risk management committee consisting of experts in various fields (IT, security, human resource, finance etc..) which will identify key personnel and allocate specific tasks during a pandemic. A pandemic planning and coordination must be thoroughly prepared. It must identify the various risk elements which the pandemic will pose against the business. This could include human resource risks, supply chain risks, IT risks, process risks, economic risks etc.
Once a plan is set up, it must be tested and rehearsed regularly. Staff training and educational workshop must be conducted to ensure that everyone in the business knows his duty and responsibility when such event happens. The heart of the business in such instance would be the IT infrastructure which should be robust enough to allow for staff to work from home, while maintaining a secure environment to prevent data breaches or communication down time.
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