Lock-down Learning

Imagine, you are deployed at 18,000 feet, in an air-maintained isolated post, with ten men. The entire area is snow clad with no sign of another living organism. All communications have been down since the last avalanche. Twice a week a MI-8 helicopter delivers your bare necessities. The chopper expected today has been cancelled due to bad weather. This a 'normal' the men in uniform deal with on a regular basis. How do the they handle this? Disruptions, uncertainties, ambiguity, volatility .... 

The MD of International Monetary Fund has dubbed the pandemic as ‘Humanity’s Darkest Hour’; a crisis worse than the financial crisis of 2008/09 with over $90 billion investment outflow from emerging markets. Morgan Stanley has cut India Inc’s earnings. Barclays say the cumulative shutdown cost will be around $120 billion or 4 percent of GDP. An additional $90 billion over the next 03 months. Among all these gloomy predictions let us look into what learning do we require during and post lockdown; it will lift for sure.

This ‘Black Swan’ event will lead to ‘crisis of confidence’ and depending on numerous scenarios being predicted, it can be safely assumed that DISRUPTION will be the new normal with large scale dramatic restructuring of economic and social order in business and society. Besides an overall environment scan/ business continuity plans some of the immediate steps by corporate would include:

a. Support and protection of your employee. b. Work From Home warrants constant and improved communication with the workforce and fresh expectation setting. c.  Steps to strengthen SHE (Safety, Health and Environment).

Some of the actions required to be initiated by the Individuals would need to: a. Stay relevant and updated in new economic environment. b. Volunteer for additional tasks. c.  Upskill (Learn – unlearn – relearn). d. Create and execute weekly projects.

For Mid Term

Each one of us need to take a hard look at our business/ industry/ sector/ domain. Re-invent our offerings, if required. It will warrant a plan for different scenarios that could pan out. A close monitoring of your competition/ supplier/ customers and by default, there will be certain businesses that will NOT make any sense at all.

This lock-down period (WFH) has thrown up quite a few possibilities for organizations and therefore the lessons could be extrapolated and applied in future too. a. Expect to continue to WFH/ co-working spaces. It saves costs/ rentals and hence will continue in various forms. b. Sales/ marketing teams, therefore, assemble on alternate days at the office. It cuts down costs. c.  Expect increased virtual engagements and training modules delivered online. d. Greater infusion of automation and localization (to negate the migration issues). e. Enhanced focus on SHE with new SOPs. f.   New SOPs, also for business continuity plans and relevance.

BE PREPARED for an entirely new paradigm as far as CASH FLOW goes. a. Conserving cash will drive all decisions. b. Deletion of all non-essential expenses. All these activities will be shaved off the list. c. Postpone all cash outflows activities. d. Re-examine all contracts and activities involving cash out flow. e. Go slow on CAPEX.

The Skills Required for Survival

The skills that will enable an individual to survive this battle will be:

a. Adaptability. This is one characteristic that epitomizes a fauzi. They adapt to every new situation, every new challenge and every new encounter.

b. Agility / Quick Learner. The person who will be agile, move on, adjust and adapt to the new environment will survive this disruption.

c.  Creativity / Innovation. Any activity that is routine will get automated. Requirement of cognitive skills, reasoning and finding solutions out of box will thrive.

d. Collaboration / Network. The era of small enterprises, peer-to-peer offerings, aggregators will find its way in our businesses. White label services, sticking to your core competency will the need of the hour.

e. Fiscal Discipline. The one who can 'stretch the rupee' will survive; heading towards a 'frugal economy', making each paisa count.

f.   Physical fitness and Mental robustness to survive and thrive will be imperative.

g. Self Discipline / motivation/ growth/ learning. The importance of finding inner strength and inner peace, individual growth and learning will pave the way forward.

The new Mantra will be BACK TO BASICS.