Friday, September 25, 2020

The Dawn will Break Soon

 The dawn will break soon- and when it does be ready

“Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without talking about the other.”- Bill Gates

It is a well known fact that the entire globe is facing the consequences of the corona virus pandemic. There is not even a single country that has been left untouched by the pandemic or its disastrous effects. The economic crisis caused by corona virus pandemic is unfathomable and inexplicable. To put it differently, the economic impact of Covid-19 Pandemic in India has been turbulent and disruptive. Evidences show that Indian Economy lost around Rs. 32,000 crore every single day during the first lockdown of 21 days which was certainly declared in order to control the spread of corona virus. Consequently, 53% of businesses in the country have been intricately affected. Research suggests that during the lockdown nearly 140 million people lost their jobs. Funding has also fallen thereby affecting the Young Start-ups. Some major companies in India like Tata Motors, Aditya Birla Group, Toubro etc have considerably reduced their operations. This is India’s fourth recession since independence and probably the worst one till date. Covid-19 has certainly affected all the fields like Agriculture, Stock Markets, and Defence etc. It has indeed affected everybody. In all likelihood, Covid-19 has clearly become an ‘economic crisis’. Even though the economic activities are resuming throughout the world, but it will take quite a lot of time to get normal. 

It is certain that the dawn will break soon that is, the situation will gradually get better.There is always a sunrise after sunset. Corona Virus is going to cause the worst “Nightmare Economic Crisis” and we have to be prepared for that and work according. However, with the use of right technology, things will get better soon and we must not lose hope. 

Needless to say, amidst such a scenario it is essential to prepare your business for recession by investing in technology. Investing in technology will certainly prove beneficial for you business. For example, several manufacturing companies and consumer goods companies are resorting to online links and websites to carry on their business in an efficient manner. As a matter of fact, Companies must invest judiciously in right technology and should focus on providing the better services to their clients. Furthermore, companies should invest in digital marketing in order to target new customers. In all probability, technology is going to play an integral role in rebuilding the economies and businesses.  Investing in technology helps in efficient functioning of the Businesses. The digital boom is good. Investing in technology is definitely the need of the hour. To put it in a nutshell, it is essential to prepare your business for recession in advance especially when the entire globe is impacted by the corona virus pandemic. Amidst such a situation, technology will prove to be a saviour for the entire world. Companies should embrace this technological shift that Covid-19 has introduced. To conclude, one must always remember that the darkest night will end and the sun will rise. Technology will indeed become the ray of hope for the entire world.

Arthur C Clarke rightly puts it- “Any sufficiently advanced technology is indistinguishable from magic.”

       

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