Course Name: Introduction to Business (BUS 101), sec 01

Semester: Fall 2022

Assignment 2
Group No - 05
Group Members:

Rownak Tasneem Shishir(202014005)

Farjana Haque Tarin(202014007)
Farhan Al Rashid(202014008)
 Managerial Skills at Different Management Levels during
Pandemic Situation

COVID-19 emerged as one of the worst pandemics in this period due to its ability
to affect almost every country across the world negatively. Corporations were not
left behind, and many were negatively influenced by their operational modes. As a
result of this, it has been quite difficult for most companies to take appropriate
steps in addressing the nature of their respective targeted goals within their
respective markets of operation. According to the listed surveys above, many
companies face significant challenges. The considerable difficulties include a
reduced number of workers following the World Health Organization's new
policies to curb the disease's spread and reduced operations following fewer
employees. This exercise affected the global economy and reduced sales, as the
business-customers interaction facilitated organizations that have not put up
profitable online businesses and lowered revenue collections.
The COVID-19 pandemic has brought with it a fast-moving and unpredictable
market. Some harmed the economy, and companies were not prepared for those.
It's undeniable that COVID-19 harms most offline businesses that did not have an
online presence, and businesses online were negatively impacted. However, they
could still recover faster in comparison to those offline. Commonly, every country
worldwide had a lockdown from March and could not conduct their business and
daily activities. People had to stay in and maintain distance from others. The
corporation faced many issues as they could not earn profits and sell products;
even online business sites such as Amazon could not sell because of restrictions on
transportation and a lack of personnel to deliver the products. The COVID-19
pandemic has reduced operations conducted by businesses, which consequently led
to curtailing manpower in order to lower the risk of disease escalation. Sourcing of
materials has become an issue as movements both internally and abroad have been
minimized leading to a longer time spent acquiring raw materials and getting
finished products to the market. On the other hand, market interaction has been
moved swiftly from traditional interaction to digital interaction hence hindering
small organizations that are not well organized in digital marketing and selling.
Businesses understood that the need of the hour is to move online and use a digital
payment method to avoid human contact.

As the COVID-19 pandemic developed, companies faced a raft of problems

simultaneously: lessened demand, office closures, supply-chain derailments, and
more. Leaders reacted by shifting to what we call “survival minimum” mode. They
needed to accomplish as much as possible with less—time, resources, and
people—than they had before. These shifts occurred at all kinds of companies
across many different industries. Some were minor adjustments, while others were
radical changes to the way companies operate. Looking across a wide landscape of
companies, we see that these COVID-19-driven changes fell into four broad
categories, which can serve as useful pillars of an operating model built for
adaptability and speed in the face of uncertainty.
 Emerging Trends in Human Resource Management
(HRM) & the company adopted Different changes to
the Post-Pandemic era

The clearest evidence of the pandemic’s impact on business has been remote
working, dislocating people at virtually every company. But remote work itself is
the tip of the iceberg. Spurred by their experience during the COVID-19 crisis,
more and more companies are shifting their people model to one that values
skills-based mobility and contributions instead of location-based work and
standard functional expectations. Various conditions attached to COVID-19 have
adequately influenced some companies' practices due to the change in multiple
modes of operations that align with the COVID-19 measures to curb the virus's
contagious spread. As a result, the pandemic has negatively influenced various
HRM practices across various companies in several ways.

Clearly, redeployment has been a critical part of serving customers during the
pandemic. But much of the redeployment has been accompanied by retraining that
gives employees more options in the long run. Verizon created new virtual training
programs and retrained more than 20,000 workers during the COVID-19
pandemic. Thousands of hourly staffers now take at-home customer service and
sales roles. An international bank reskilled and redeployed hundreds of employees
from advisory jobs to customer-experience roles. Based on that success, the
company has standardized a rapid redeployment process that will pay off long after
the pandemic is over. SWIFT, a European payments company, launched what it
calls the DevSecOps academy, a virtual-training system for employees to
strengthen their engineering capabilities and become fit for the future.
Other companies have gone even further by giving employees the tools for success
in an agile organization. One telco, for example, originally planned to train 400
employees in agile practices and product management over three months. Spurred
by the pandemic, it instead trained 4,000 people. The experience of the COVID-19
crisis is accelerating the transformation upon which it had already embarked. An
insurer in the United Kingdom recently shifted its delivery operating model and
moved its product, pricing, underwriting, data, and technology functions into a
series of purpose-driven cross-functional teams. To enable this, it has invested in
an at-scale, the fully remote capability-building program for nearly 1,000
employees.

Also monitoring the employees’ mental health is key to having a productive and
motivated workforce. Many employees report having back-to-work anxiety caused
by pandemic-induced stress. Some employees may have been personally affected
by COVID-19, while others may find returning to the office stressful after months
of self-isolation. This is why it is a good idea to gauge these emotions and identify
any insecurities or apprehensions among the staff about returning to work.
Similarly, we can stretch an additional goal to set for the workers in case they
exceed their initial goal. Although these are a great way to keep your business
productive, it is best not to give your staff multiple ambitious stretch goals soon
after their return to the office. Start small and keep the stretch goals realistic to
avoid early burnout. As the employees are starting to get used to their workload,
they can gradually increase their goals. In addition to getting the team involved in
goal setting, they can also set shared targets for different teams to boost teamwork
and collaboration. After months of working from home, the employees may have
lost connection with some of their colleagues, so this is a great way to get them to
rekindle their work relationships.