What can we learn from the Coronavirus crisis?

What can we learn from the Coronavirus crisis? Yes, indeed. we can definitely draw some trends from it. Trends that can drive the individual, the companies and the society as a whole to brighter days or to an even more difficult way ahead. As an example, let me highlight a major trend that is driving decision-making in this challenging time. 

What's the motive for an average citizen...?

Usually, you would like to increase your paycheck as much as possible. Well, guess what, it might be the right time to do so if you agree to work out there despite the health risks associated with the Covid-19. Here is one thing you should consider : what is the point working to get more money when if not provided with the right equipment, you can easily end up sick and God forbid even die from this disease...?

For this simple reason, you should be adamant in having your health preserved. It is much more important than getting an additional bonus. If not, your short term focus on money will probably make you lose much more money in the long run if not your job.

What if you are an Entrepreneur...?

When it comes to an Entrepreneur, this health crisis will reveal the choices that have been made. After all, a great Entrepreneur is a visionary and is keeping up with the local and global trends. In our case, if you have thought ahead, it has enabled you to anticipate and prepare for a stoppage of your business. This is only possible for a leader interested in the medium to long term periods. Rather, what you can notice is that a number of business leaders are so engulfed in a short term outlook that they are ready to give out bonuses but unwilling to make sure health and safety are guaranteed. In the context of the Coronavirus crisis, certain business owners do not provide masks for their employees but give them bonuses as a compensation for the risk they face.

Obviously, the short term unwillingness to take care of your employees' health may end up being very costly. All you need for that is to have all your employees on sick leave at the same time.

What is to be expected for the society as a whole...?

Some countries have decided to shutdown a lot of businesses and only a few companies stayed open during the health crisis. In doing so, the livelihood of the people is immediately put in jeopardy. Therefore, the temptation is there to keep the economy running. It would be choosing to roll the dice because keeping the businesses open would be good for now but would potentially bring the economy to it knees if the health crisis deepens. As you can imagine, this just cannot be a viable option. 

One more time, this would underline the priority given to short term gains. The countries with that tendency went for that option and a number of them are now struggling to get back on track. Amongst those, you mainly find western countries.

The fact of the matter is the Covid-19 is only confirming how mesmerized we can be about making short term decisions for short term gains. The very same tendency that is driving the individual, the companies and more broadly the entire world economy to a dangerous territory in the long run. No, you do not have to choose between health for your population and keeping the economy alive. Both are actually intertwined. Whatever strategy you choose to cope with the Coronavirus outbreak, it can only be right if it allows men and transactions to continue. As an example, the right approach is to be taken from eastern countries with countries such as South Korea and Taïwan. Leadership is also defined by your ability to think long term. It has lead these countries to take a different approach to cope with the health crisis. They do more testing and only isolate the infected people.

Written by David IBRAHIM.

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