Economists at the open eyes economy summit collected the main trends and weaknesses of the system that were revealed during the coronavirus pandemic and gave seven tips for business and authorities to help entrepreneurs come out of this crisis strengthened.
In their opinion, it is necessary to change thinking about management, economy or running your own business. How? They give seven tips for public authorities and business itself
As experts point out in the Open eyes Economy Summit report, the pandemic has exposed hidden social challenges, such as underinvested education and the limited skills of poorly paid teachers, a lack of resources and reserves in the health service, which cannot be replaced by passion and sacrifice.
Open Eyes Economy Summit report-business councils
"The pandemic has clearly shown the differences between well-managed and poorly-managed countries. While in the former, leaders made difficult decisions and communicated them to the public with explanations and justifications, in the latter, we could observe hysterical and incompetent behavior of governments or political leaders, helpless in the face of a gigantic and unknown challenge and reacting by fleeing into slovotok and propaganda," they write.
According to them, the pandemic also"overvalued paradigms, thwarted plans, frightened, but also sobered many people's view of the world."
Therefore, in their opinion, in such a situation, one can either "fall into resignation and nihilism", or reorganize thinking and behavior: live more consciously, develop various possible scenarios and expect the unexpected.
"To work to live, not to live to work; to earn – but not to accumulate greedily; to strive for economic and civilizational development, but not at all costs - certainly not at the expense of the environment: the basis of our existence" - they argue.
Lessons from the crisis
Why do the authors of the report encourage a change in thinking? Because, as they write, the epidemic crisis has revealed several problems, thanks to which it is necessary to draw conclusions for the future. Here's a list of things that came out during the pandemic. Let's give the economists a vote:
the private sector was much better prepared for an emergency than the public services sector (administration, education, healthcare);
many highly paid professions and industries in the Times of the pandemic proved to be of little use to society, while poorly paid professions (nurses, salesmen, drivers, couriers, teachers, employees of city cleaning companies, etc.) proved to be important.);
"container" globalization, an economy without stocks and reserves, based on the just in time system, has proved completely immune to the disruption and collapse of extensive supply chains;
remote work, which until now has been reluctantly accepted by companies and barely tolerated, has become a basic form of work;
the big problem turned out to be the efficient management of information and communication:
no standardized communication platforms (online platforms) for business, education, administration;
the complete helplessness of society in separating grain from chaff, information from disinformation (during the pandemic, Google removed 80 million disinformation-spreading fake news about COVID-19; fake news has 70 percent. more clickable than real messages);
the lack of trust in the state and decision-makers has meant that only a few have used government-created apps to identify pandemic outbreaks.
The report also says that companies have learned what true uncertainty means, a situation in which neither future conditions nor the likelihood of their occurrence can be assessed.
"And uncertainty, instead of decreasing, grows steadily with the development of the pandemic. While companies initially mastered the challenge of ensuring the safety of employees and maintaining a certain level of activity, at the moment they are fighting a difficult battle for survival" - they explain.
Seven tips for business
Therefore, the authors of the report have compiled seven tips for business and public authorities for the future, which are to help employers come out of the coronavirus crash strengthened. Here they are:
I. both national governments and business need to take a different view of stocks and reserves. They can not be treated as a loss, but as a security. Just as no one is surprised that we insure business and property, so now we need to create internal reserves and alternative scenarios.
II. Supply chains need to be optimised to limit the impact of regional or global crises. Public service systems need to be prepared for potential risks, and selected industries are largely independent of global suppliers. We need a new understanding of the security and independence of the European Union. This will require a change in internal policies, m.in. in order to ensure that the criterion of the lowest price no longer prevails in the selection of tenders and in public procurement. This applies, for example, to the manufacture of medicines.
III. It is a huge challenge for business organisations to develop-with government support-alternative scenarios for doing business in crises not caused by the market. Not everything is predictable, but for certain actions to move automatically-just as a smoke detector triggers a sprinkler to nip a fire in the bud-these concepts are needed. However, to be formed, the state can not be conducted "on contact" or on the budget minus. Current and fixed social expenditure must not absorb the reserves of present and future generations.
Problems with disinformation, unpreparedness of state structures or errors in communication - these, according to economists, are some of the problems that emerged during the coronavirus crisis
As experts point out in the Open eyes Economy Summit report, the pandemic has exposed hidden social challenges, such as underinvested education and the limited skills of poorly paid teachers, a lack of resources and reserves in the health service, which cannot be replaced by passion and sacrifice.
Open Eyes Economy Summit report-business councils
"The pandemic has clearly shown the differences between well-managed and poorly-managed countries. While in the former, leaders made difficult decisions and communicated them to the public with explanations and justifications, in the latter, we could observe hysterical and incompetent behavior of governments or political leaders, helpless in the face of a gigantic and unknown challenge and reacting by fleeing into slovotok and propaganda," they write.
According to them, the pandemic also"overvalued paradigms, thwarted plans, frightened, but also sobered many people's view of the world."
Therefore, in their opinion, in such a situation, one can either "fall into resignation and nihilism", or reorganize thinking and behavior: live more consciously, develop various possible scenarios and expect the unexpected.
"To work to live, not to live to work; to earn – but not to accumulate greedily; to strive for economic and civilizational development, but not at all costs - certainly not at the expense of the environment: the basis of our existence" - they argue.
Lessons from the crisis
Why do the authors of the report encourage a change in thinking? Because, as they write, the epidemic crisis has revealed several problems, thanks to which it is necessary to draw conclusions for the future. Here's a list of things that came out during the pandemic. Let's give the economists a vote:
the private sector was much better prepared for an emergency than the public services sector (administration, education, healthcare);
many highly paid professions and industries in the Times of the pandemic proved to be of little use to society, while poorly paid professions (nurses, salesmen, drivers, couriers, teachers, employees of city cleaning companies, etc.) proved to be important.);
"container" globalization, an economy without stocks and reserves, based on the just in time system, has proved completely immune to the disruption and collapse of extensive supply chains;
remote work, which until now has been reluctantly accepted by companies and barely tolerated, has become a basic form of work;
the big problem turned out to be the efficient management of information and communication:
no standardized communication platforms (online platforms) for business, education, administration;
the complete helplessness of society in separating grain from chaff, information from disinformation (during the pandemic, Google removed 80 million disinformation-spreading fake news about COVID-19; fake news has 70 percent. more clickable than real messages);
the lack of trust in the state and decision-makers has meant that only a few have used government-created apps to identify pandemic outbreaks.
The report also says that companies have learned what true uncertainty means, a situation in which neither future conditions nor the likelihood of their occurrence can be assessed.
"And uncertainty, instead of decreasing, grows steadily with the development of the pandemic. While companies initially mastered the challenge of ensuring the safety of employees and maintaining a certain level of activity, at the moment they are fighting a difficult battle for survival" - they explain.
Seven tips for business
Therefore, the authors of the report have compiled seven tips for business and public authorities for the future, which are to help employers come out of the coronavirus crash strengthened. Here they are:
I. both national governments and business need to take a different view of stocks and reserves. They can not be treated as a loss, but as a security. Just as no one is surprised that we insure business and property, so now we need to create internal reserves and alternative scenarios.
II. Supply chains need to be optimised to limit the impact of regional or global crises. Public service systems need to be prepared for potential risks, and selected industries are largely independent of global suppliers. We need a new understanding of the security and independence of the European Union. This will require a change in internal policies, m.in. in order to ensure that the criterion of the lowest price no longer prevails in the selection of tenders and in public procurement. This applies, for example, to the manufacture of medicines.
III. It is a huge challenge for business organisations to develop-with government support-alternative scenarios for doing business in crises not caused by the market. Not everything is predictable, but for certain actions to move automatically-just as a smoke detector triggers a sprinkler to nip a fire in the bud-these concepts are needed. However, to be formed, the state can not be conducted "on contact" or on the budget minus. Current and fixed social expenditure must not absorb the reserves of present and future generations.
0 Comments