Question

Considering the ongoing current events and the almost total shutdown of American and world business, discuss the challenges that most organizations and their management face with the restart of commerce and their business processes once the virus issues are resolved. What is the The long-term effects of "Working From Home". Please cite your source.

Answer 1

Solution:

The world economy is facing a shutdown of businesses because of the pandemic situation. There is almost negligible business movement operational for many industries and there has been a strong change in the operations of the businesses. Because of the virus situation the businesses will have to change the way they operate their business because businesses may not be in the position to wait until the virus issue has been resolved because it may take up to years to resolve this issue. Hence, businesses will have to come up with ways to deal with the virus and restart their business operations.

The management of the businesses face challenges that pertain mostly to generating the demand among such panic situation among the consumers. The businesses will have to win the consumer's trust and make them believe that the best safety practices are being followed by the business. More the business comes in touch with the consumers more degree of confidence the consumers should develop about the business and its product or service offerings. Also, another important challenge for businesses will remain that of managing the workforce carefully. The economic times are harsh and hence the businesses will have to manage with lean workforce employing only necessary workers to ensure business is able to manage the expenses and run the operations efficiently. Hence, the management of the workforce and generating a strong demand will remain some of the largest challenges for the management of the businesses.

Many businesses that can allow their employees to work from home have leveraged this facility and have continued with their business operations. regardless of the pandemic situation majority of the businesses were already working on digital transformation of their businesses which also included remote working options for their employees as a means of cost cutting and efficient workforce measures. The employees in work form home, or remote locations have shown to have good productivity and there are no necessary results that state that the productivity has dropped. The employees have adopted the remote working options and the digital transformation strategies of the businesses have been successfully fast-tracked. Hence, the long term effects of remote working employees will be beneficial for the business and will lead to almost similar or higher productivities and lower operational costs for the business. Hence, this method of allowing employees to work from home will be sustainable for many businesses in future.