I would rather call this a transformation
time than calling it as drowning stage.
COVID-19 transformation will be
considered as one of the biggest industry transformation for millennials
whereas partnered by Gen X, Gen Z will be part of transformed industry world.
India have suppressed the curve
comparatively despite being high in population with high densities in major
cities. On safer side, Businesses need to plan their repel considering ‘W’
Curve possibility (re-occurrence)
After Corona, There is high
possibility on discretionary spending. This will boost/give birth of few
industries & companies like –
1. Health
& Safety - insurance, Pharmaceutical, Medical centers/Hospitals
2. Digital
education - online/app based education
3. Home
entertainment - web based/app based apps of entertainment like Netflix, Amazon
Prime etc.
4. Home
fitness – YouTube channels, fitness apps
Most of the above mentioned
industries are evolved to operate via digital mode only. Many of Health &
safety companies are also providing customer service interactions via digital
mode.
Data injection to these companies
are done by network service providers which is nothing but TELECOM companies.
Emerging digital centric Telecom companies which are can even provide digital
solutions to the business hurdles of these companies will get benefited more
than pure Telecom Company
Impact on Jobs
As per CMIE (Centre for
Monitoring Indian Economy) published in Economic times on May13th, 2020: 27
million youth in age of 20-30 has lost jobs in April 2020.
As per new government announcement
– 20 Lac crores package to encourage MSME’s.
In my opinion, job market would
take a new shape in India – As it would be difficult but situation would not be
impossible till the time youth are ready to take up challenges in joining startups.
I would rather suggest youth to
be an entrepreneur if one is confident on one’s business model and strong
enough to face the hurdles to set that right to raise
8 suggestions to youth for adoption to stand unique in any condition: (despite
oneself employed or to be employed) which is in my brain sight at this point
1. One
should be ready for Change
2. Pull
all the levers to set the situation right at the time of crisis
3. Acknowledge
the crisis (be It any) and get ready for response plan
4. Speed
of action is very critical, Iterate quickly to innovate it with a concrete plan
5. Think
and take steps to deliver on any condition to fulfill customer priorities around
maintenance with confidence
6. Review
policies and recapitulate in line with current situation which should protect
customer (can be our own employee) and commercial interests both
7. Mind
Safety – Safety has to be the priority for good self/employees/customers
working for us and cybersafe even in
operating remotely is equally important to become sustainable
