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Blog posts of '2021' 'October'

3 GOLDEN RULES TO BUILD RESILIENCE AT WORKPLACE
According to research, resilience is built by attitudes, behaviours and social supports that can be adopted and cultivated by anyone. Factors that lead to resilience include optimism; the ability to stay balanced and manage strong or difficult emotions; a sense of safety and a strong social support system. The good news is that because there is a concrete set of behaviours and skills associated with resilience, you can learn to be more resilient. It has been repeatedly noted that the most resilient individuals and teams aren’t the ones that don’t fail, but rather the ones that fail, learn and thrive because of it.
BUSINESS PRACTICES INDUSTRY LEADERS ARE ADOPTING TO SUSTAIN AND GROW IN THE NEW NORMAL
Businesses have been exposed to various challenges during the global pandemic, and their response to this disruption has impacted their resilience as well as their chances to overcome this crisis. Small and medium-sized enterprises (SMEs) are changing their business models in order to adapt to this changing environment. Service-based industries have been hit particularly hard. The COVID-19 pandemic has severely disrupted global consumption, forcing people to unlearn old habits and adopt new ones. Companies seeking to emerge from the crisis in a stronger position must develop a systematic understanding of changing habits. For many firms, that will require a new process for detecting and assessing shifts before they become obvious to all. The first step is to map the potential ramifications of behavioral trends to identify specific products or business opportunities that will most likely grow or contract as a result.
BUSINESS SUSTAINABILITY POST COVID
COVID has shown us transformational changes can be done overnight. The manufacturing sector has suffered to a great extent due to global pandemic. This pandemic is forcing the manufacturing industries to look forward to a long term and sustainable business plan, which ensures sustainability in three different aspects i.e. Social, Economic, and Environment. This demands a never before need of higher value to the customer in lesser resources.
ALIGNING CORPORATE CULTURE WITH EMPLOYEE CAPABILITIES INITIATIVES
Corporate culture is a critical factor in enhancing the attainment of organizational goals and objectives. Organizational commitment is defined as the degree to which an employee identifies with the organization and wants to continue actively participating in it this, in turn, defines organizational behaviour. The stronger an employee’s commitment to the organization, the less likely the person is to quit. A strong commitment is also correlated with organizational citizenship, job satisfaction, and job performance and employee retention.
CREATING A MANUFACTURING DRIVEN ECOSYSTEM TO ACCELERATE ECONOMIC GROWTH
The country has huge untapped potential to become a global manufacturing hub, but economic growth has been primarily driven by the services sector growth for decades. In contrast, growth in manufacturing has been abysmal despite the availability of cheap labour and other resources. While the rapid growth of the services sector has served the nation well right from the 1990s, the pandemic has shown why the nation needs to shift its focus on boosting the crucial manufacturing sector.