The fear of Covid-19 is unique in terms of its impact. Plants are closed, inventories are piled up, suppliers are unpaid, and employees are tense. Here is a guide on what should leaders do?
04 Apr 2020 | 9174 Views | By Raman Nanda, founder and CEO, Step Transformations
The Chinese proverb said it all... ‘May you live in interesting times!’ For the Indian automotive industry, ‘interesting times’ means nothing short of an unmitigated disaster. Barely was the dust settling on BS VI norms issue and CASE expectations were beginning to play out, the Coronavirus with its attendant lockdown ...
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The Chinese proverb said it all... ‘May you live in interesting times!’ For the Indian automotive industry, ‘interesting times’ means nothing short of an unmitigated disaster. Barely was the dust settling on BS VI norms issue and CASE expectations were beginning to play out, the Coronavirus with its attendant lockdown and stoppage of plants has clearly knocked the bottom out of the Indian automotive industry.
What is to be done? The world has seen big crises like the 2008 financial meltdown, SARS, EBOLA and other emergencies. But the unprecedented speed of spread across 200 countries, scale (700k infected while going to the press) and therefore the fear of Covid-19 is unique in terms of its impact. Plants are closed, inventories are piled up, suppliers are unpaid, and employees are tense.
What should leaders do? Eight things, in my opinion
These times are a test of our resilience and should start with Optimism –and even with all the down days, let us not forget that the sun will rise again and automotive will be a sunshine industry.
Good Luck in your efforts to navigate to the shore in these unusually challenging times!!
You will make it.
The views of the author are personal
Raman Nanda is also a CEO Mentor and Coach. Till recently, he was Country Head and President, Gestamp India.
He can be reached on raman.nanda.pune@gmail.com
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Leading a business during unprecedented challenging times