
<div class="wp-block-image is-style-rounded" style="margin-top:0px"><figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36.jpg" alt="" class="wp-image-373144" width="95" height="96" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36.jpg 1010w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36-296x300.jpg 296w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36-150x150.jpg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36-768x779.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36-696x706.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36-300x300.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36-600x608.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/PHOTO-2019-12-12-14-01-36-100x100.jpg 100w" sizes="auto, (max-width: 95px) 100vw, 95px" /><figcaption>Image supplied by Curtin University Dubai</figcaption></figure></div>



<p><em><strong>About the Author:</strong> Sandile Nkala is a final year Bachelor of Commerce in Accounting student and the former Student Council President at <a rel="noreferrer noopener" href="http://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=elearning_digital_divide_article" target="_blank">Curtin University Dubai.</a> Over the last few years, Sandile has spent time speaking and mentoring young women in the UAE. She has also served as a Student Brand Ambassador for Curtin University, Hunter Foods, 6th Street, Uninest Student Residences and Self Defined; a South African organisation with a movement that strives to empower young women to make a difference.</em></p>



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<p>Over a billion students, in 191 countries are supposedly distance learning. Education took quite an interesting turn this year, as virtual tutoring, video conferencing and online learning software instantly became the new normal.&nbsp;&nbsp;These drastic measures were necessary to control the Covid-19 infection rates. However, we need to address the ‘elephant’ in the room.&nbsp;</p>



<p>One cannot deny the necessity of e-learning during such a testing time. Even so, the elephant in the room is the ‘digital divide’. It can be seen globally that the ability to fully participate in e-learning is tied to socio-economic status. US President Lyndon Johnson once said, ‘Education is the key to opportunity in our society, and the equality of educational opportunity must be a birth right of every citizen’. Yet, the UN has reported that 830 million students, fighting for an opportunity for a better life in our society, are currently locked out of the digital classroom. For instance, 90% of students in sub-Saharan Africa reportedly do not have access to a computer with 82% unable to get online. This is illustrated by Mandlenkosi Mswela, an Accounting university student in Zimbabwe who expressed how concerned he was about the possibility of repeating a semester, as students are currently being tutored via WhatsApp and PDF documents due to little or no access to the internet. On the other end of the spectrum, over 90% of students in the Netherlands, Sweden and the UK have access to a computer or internet at home. An IT university student in Sweden, Benjamin Gafvelin mentioned that the change to e-learning was in fact quite painless and that his biggest challenge was merely completing courses that consist of group work.&nbsp;</p>



<p>Realistically, the 830 million students currently locked out of the digital classroom face the possibility of repeating a grade and failing to graduate in time or worse, being socially promoted without having mastered the material that was to have been taught this year. Learning discontinuity among students in underdeveloped nations and low-income communities is the biggest threat we face by failing to address this alarming digital gap. Fortunately, some nations and educational institutions across the world have taken steps towards bridging the digital gap. For instance, the South African government has already begun to implement strategic policies and resources to ensure that students in low-income communities are not deprived of a right to equitable education. It is a work in progress, but unquestionably a step in the right direction. Nobesuthu Mnkandla, a law university student in South Africa praised the efforts of the nation by saying, ‘Universities have distributed laptops and 30GB data bundles to cater to students who have little or no access to e-learning. Also, universities have decided to post studying material and deliver USB flash drives to areas with no internet coverage. This has not been easy, the Student Representative Councils are doing their best to ensure no students are left behind.’ Effort such as this go a long way to show that it is indeed possible to find ways to mitigate the learning discontinuity threat.</p>



<p>The Covid-19 crisis highlighted a major issue in an era where we value equity in education. The e-learning digital gap is indeed real. However, with the appropriate policies and resources in place, the 830 million students locked out of the digital classroom can continue to fight for an opportunity to a better life in our society. For this reason, concerned educational institutions, governments and parties are urged to take the necessary action to give these students a fighting chance.&nbsp;</p>



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<p><strong>Sources</strong></p>



<p><a href="https://news.un.org/en/story/2020/04/1062232">https://news.un.org/en/story/2020/04/1062232</a><br><a href="https://www.weforum.org/agenda/2020/04/coronavirus-education-global-covid19-online-digital-learning/">https://www.weforum.org/agenda/2020/04/coronavirus-education-global-covid19-online-digital-learning/</a><br><a href="https://www.gov.za/speeches/minister-angie-motshekga-basic-education-sector-plans-support-learners-during-covid-19">https://www.gov.za/speeches/minister-angie-motshekga-basic-education-sector-plans-support-learners-during-covid-19</a></p>



<p><strong>Interviewees</strong></p>



<p>Mandlenkosi Mswela. National University of Science and Technology. Zimbabwe.<br>Benjamin Gafvelin. KTH Royal Institute of Technology. Sweden.<br>Nobesuthu Mnkandla. Rhodes University. South Africa.<br>Lowa Heimer. Påhlmans Handelsinstitut (Business Institute), Paralegal Higher Vocational Education (HVE). Sweden.<br>Angelica Feliz. SP Jain School of Global Management. Australia.&nbsp;<br>Hala Haytham. Curtin University Dubai. United Arab Emirates.<br>Terri Golding. University of Pretoria. South Africa.<br>Lisa Dube. University of Pretoria. South Africa.<br>Takudzwanashe Mujawo. Middlesex University Dubai. United Arab Emirates.<br>Simbarashe Nyakambangwe. Coventry University. United Kingdom.</p>



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<p>Content and image supplied by <em><a rel="noreferrer noopener" href="http://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=elearning_digital_divide_article" target="_blank">Curtin University Dubai.</a></em></p>


Students on desktop | Curtin Dubai

COVID-19: A student’s perspective on the e-learning digital divide


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<p class="has-text-align-left"><em><strong>About the Author:</strong> <em>Dan Adkins is the CEO of <a rel="noreferrer noopener" href="https://www.transnationalacademicgroup.com" target="_blank">Transnational Academic Group</a> &#8211; Education Management Services Provider of <a href="http://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=COVID-19%20Lessons%20to%20be%20learned%20from%20the%20pandemic" target="_blank" rel="noreferrer noopener">Curtin University Dubai.</a> He joined the Group in 2009, prior to which he was in the information technology industry providing services for companies including IBM, Dell, Clorox, Philips, Hershey’s, Coca-Cola, Merck, and VISA. </em></em></p>
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<p>The COVID-19 pandemic is unprecedented in modern times. Over the past 105 years, there have only been three to four incidents that have had nearly as severe and global an impact: the 1918 Flu Pandemic, World War One, the Great Depression, and World War Two.&nbsp;Events like these defined generations and inspired certain behaviours in those of that generation.&nbsp;Unfortunately, there are few alive who have first-hand memory of any of these events.&nbsp;Historically, coming out of such events, people have developed certain traits and lifestyles that reflect that hardship they have experienced and a desire to avoid such hardship in the future.</p>



<p>These events shared several traits; they were unexpected, unprecedented in their scope, and unpredictable in their impact and length.&nbsp;All of these traits cause uncertainty about the future, resulting in stress and fear which often lead to poor decisions being made that simply exacerbate the problems.</p>



<p>As these events were unexpected and very few people were, due to their situation and lifestyle, prepared for them.&nbsp;As humans, we generally live very much in the present and do not give a significant amount of thought to the future.&nbsp;Even when we do think of the future, it tends to be from a place of optimism, which is focused on our future goals and desires.&nbsp;&nbsp;But, just as companies should have a disaster recovery and business continuity plan, so should we as individuals.&nbsp;This however goes against human nature.&nbsp;Rare is the person who has achieved the balance of being able to always consider, “what is the worst that could happen?” and yet maintain the realistic optimism needed to prepare for the future.</p>



<p>After these events, people had an idea of, “what is the worst that could happen?” and were determined to make sure that if it ever happened again, they would be ready for it so that they would never face the fear and suffering that they had just experienced.&nbsp;&nbsp;It has been said that those who do not know history are destined to repeat it<sup>[1]</sup>, therefore let us take some lessons from history so that we best know how to deal with the current pandemic, and how to be better prepared for the crises that we will surely face in the future.</p>



<p>Coming out of these events, most people had new priorities.&nbsp;First, they discovered what was really important in life.&nbsp;People had found that things were not nearly as important as people.&nbsp;Many people lost all that they owned during these events, and yet they survived.&nbsp;&nbsp;They learned that losing family and friends hurt much more than losing things and that even when all material things were lost, it was the support of family and friends that made life bearable and provided both a motivation and pathway to eventually recover.&nbsp;This led to both putting greater value on the relationships with family and friends and to having less desire for material possessions, as well as valuing character over status.&nbsp;&nbsp;</p>



<p>Second, they realized the value of having a reserve on which they could draw in the next crisis.&nbsp;These generations became generations of savers, who, as my grandmother would say, “set aside a little something for a rainy day”.&nbsp;While this goes against the natural desire to have pleasure in the present and to be less concerned about the future, the fear of suffering again was sufficient to overcome the desire for immediate gratification.&nbsp;Third, they came to understand the criticality of remaining employable.&nbsp;They understood that the social contract had changed and doing your job was not enough to ensure that you could stay with your company until retirement.&nbsp;This realisation led to an increase in enrolment in higher education that continues to this day.&nbsp;It led to a rapid growth in entrepreneurship that is still continuing. It also led to a culture of a strong work ethic, realising the importance of being seen as fully committed to ones work in maintaining job security.</p>



<p>Unfortunately, the seven decades that have intervened since these great times of struggle have changed the culture and the lessons of the past have been lost.&nbsp;Worldwide marketing efforts and the global media have glorified materialism, status and celebrity, leading to the death of the culture of character.&nbsp;The glorification of possessions and status have led to a consumerist culture that is far exceeding the ability of the Earth’s resources, and has led to less and less money being put aside for a rainy day.&nbsp;Over the decades, many of the social safety nets that had been established have been eliminated or weakened to the point of being ineffectual.&nbsp;As has been demonstrated in countries like Australia and New Zealand, proper actions when supported by effective healthcare and government systems, had the ability to stop the pandemic with both minimal loss of life and as little adverse economic impact as possible.&nbsp;Much of the damage that is being seen now in the world is directly attributable to the decades long destruction of the social safety net, especially the health care systems, and most importantly to the poor decisions of governments, with the United States, Brazil, and Sweden clearly serving as case studies.</p>



<p>As an individual, it may seem that there is little that can be done to improve the situation in this time of pandemic, but such defeatist attitudes serve no one well.&nbsp;There is much that can be done as an individual to make things better during the pandemic, and to make sure that both you and society are better prepared for the next crisis.</p>



<p>First, we must overcome the human desires to do whatever we want and instead take every possible action to limit the spread of the virus by staying home unless absolutely necessary, maintaining social distancing when in public, and consistently and correctly wearing personal protective equipment like masks and gloves.&nbsp;The 1918 flu pandemic demonstrated that those communities who followed good practices to limit the spread of the virus not only had better health outcomes, but also had substantially faster economic recovery.&nbsp;By controlling the virus, Australia and New Zealand have already been able to reopen their internal economies and are not facing a second wave of infections, while countries like the United States, which even according to the guidelines established by the United States government, is reopening too soon, will almost certainly face a more severe second wave similar to what was seen in the 1918 pandemic, which will cause even more economic damage.</p>



<p>Second, we would do well to personally take guidance from our ancestors who lived through the prior crises in understanding how to deal with this one.&nbsp;During prior times of crisis, communities worked together to help each other out.&nbsp;Those who had the financial ability, contributed to help others with material needs.&nbsp;A substantial informal economy formed based largely on barter, where people used what they had to help others and in turn received help themselves from others, much as my grandmother described trading vegetables from her garden for eggs from one neighbour and meat from another.&nbsp;&nbsp;At that time, social class was largely irrelevant and the community stood strong together.</p>



<p>Third, as we come out of the pandemic, we should apply the lessons that we have learned and live our lives in a way that both prepares us for any future crisis and is sustainable.&nbsp;&nbsp;Coming out of the crisis, we should realise how we have been manipulated by marketing, media, social media, and celebrity into valuing material things, often over people or character. The way that those in the most developed countries are living is absolutely not sustainable and would be catastrophic if adopted by the rest of the world. While absolute minimalism has its virtues, it may be too much for some people.&nbsp;However, everyone can adjust to living a life where they purchase only what they absolutely need, live in a residence no larger than is absolutely required, do not buy products for status or brand, do not waste perishable items, and use every product until it can no longer be used. This not only gets us off of the consumerism treadmill and stops us from comparing our real life to someone’s highlight reel on social media, but also allows us to save money to be better prepared for any future crisis and gets us much closer to living in a sustainable way so that Earth is still in good shape for our children and grandchildren.</p>



<p>Let us together pledge to take this global crisis and catastrophe and use it as the driver to make a lifelong commitment to living in a way that is sustainable and that prepares us for any crisis yet to come.</p>



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<p><sup>[1]</sup>George Santayana</p>



<p>Content and images supplied by <a href="http://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=COVID-19%20Lessons%20to%20be%20learned%20from%20the%20pandemic">Curtin University Dubai</a>. </p>


Facebook holds on as TikTok invades Social Media in SA

COVID-19: Lessons to be learned from the pandemic


<div class="wp-block-image is-style-rounded" style="margin-top:0px"><figure class="alignleft size-thumbnail is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/04/Disha-Laungani-150x150.jpg" alt="" class="wp-image-369008" width="129" height="129" /><figcaption>Image supplied by Curtin University Dubai</figcaption></figure></div>



<p><em><strong>About the Author:</strong> Disha Laungani is the Associate Vice-President for Marketing and Student Recruitment at <a rel="noreferrer noopener" href="http://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=Marketing_Covid19_Article" target="_blank">Curtin University Dubai</a>. With a decade of experience in her field, her interests lie in building brands and telling their stories. She holds a degree in Media and Communication and a Master in Business Administration.</em></p>



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<h2 class="wp-block-heading"><strong>Marketing during COVID-19 &#8211; how to not make your audience hate your brand</strong></h2>



<p>“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change”. Replacing the word ‘species’ with ‘brands’ in this quote by Charles Darwin will aptly summarize the rest of this piece.</p>



<p>In just two months, the world has transformed with the COVID-19 pandemic. With this virus impacting lives and economies, we are currently living in a unique time that even seasoned professionals have not encountered before.</p>



<p>Brands around the world are also struggling to cope with these trying times. The global challenge is industry agnostic; every brand manager is currently dealing with the same dilemma of, “how do I save my brand from being impacted?”&nbsp;&nbsp;The truth is, you can’t.&nbsp;</p>



<p>Resisting or ignoring the current situation and its impact on businesses is fatal. As brand custodians, our harsh reality is that change is imminent. There is an urgent need to respond to this pandemic with an effective marketing strategy &#8211; one that will continue to engage our audience, the brand’s believers, and avoid actions that lead to angry rants on public platforms.&nbsp;</p>



<p>While we don’t have a fail-proof set of instructions on how to effectively implement a novel marketing strategy for this novel virus, in times like these it’s best to use your emotional intelligence with your expertise – a juxtaposition of your gut feeling with concrete industry data.</p>



<h3 class="wp-block-heading"><strong>Messaging Matters</strong></h3>



<p>Every brand knows that it’s important to relay the right message to its target audience. Your audience right now is crying for help, and are either looking for solutions, reassurance or just some positivity during this tumultuous period. They want to trust you and your product. </p>



<p>Your brand’s content needs to be relevant and reliable, like Nike’s brilliant social media post which encouraged social distancing through their campaign “play inside”. The witty headline was followed by an equally gripping copy that read “If you ever dreamed of playing for millions around the world, now is your chance&#8221;, which resonated with Nike’s followers who applauded the brand’s creativity and appreciated its concern for the world.&nbsp;</p>



<h3 class="wp-block-heading"><strong>Customers want to experience empathy</strong></h3>



<p>Consumers are quick to distance themselves from brands that lack empathy. A donation towards a good cause or a display of genuine concern will help you strike a chord with your intended audience immediately.&nbsp;</p>



<p>Think about what your audience needs right now and how you can help them achieve it. Fitness centers and gyms have been forced to shut down for an indefinite period but continue to run free classes through live videos, hence reinforcing their commitment towards their clients’ wellbeing, leading them to attract a wider audience. At Curtin University Dubai, we are providing generous financial aid to students to help them continue with their education. This simple act has been met with positive responses and sighs of relief. A thoughtful gesture that shows compassion and concern towards the customers will boost brand loyalty as well as awareness.</p>



<h3 class="wp-block-heading"><strong>Make smarter decisions&nbsp;</strong></h3>



<p> A change in strategy and making wiser investment decisions is crucial to help you combat the drop in sales. For instance, budgets assigned to mass media advertising, can be reallocated towards services that allow your audience some ease of access. Introducing a web-store, setting up easy installment purchases, or offering contactless deliveries will encourage your audience to continue using your product or service from the safety of their homes.&nbsp;</p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"><p><strong>&nbsp;“The consumer isn’t a moron. She is your wife” – David Ogilvy&nbsp;</strong></p></blockquote>



<p>It is important not to undermine the intelligence of your audience.&nbsp;&nbsp;Make sure your content and messaging is genuine, do not fake a show of solidarity. Several companies have faced flak for being opportunistic while failing to add value to the society and communities that surround them. Brands need to conscientiously invest in the well-being of people, instead of wasting resources on unnecessary gimmicks. Such efforts don’t have to be grand, just genuine. We must not use the pandemic as an excuse to prey on the consumer’s fears to boost sales. Encouraging panic buying or creating a FOMO factor wouldn’t be a wise move right now.&nbsp;</p>



<p>Your marketing strategy during this time can sink or seal your relationship with your consumers. This is a period that will be talked about for years to come, hence it is crucial to use this time to strengthen your relationship with customers by giving them something to remember. This is the time to invest in goodwill, uphold the brand image and retain your customers, because as the age old adage goes, “this too shall pass.”</p>


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COVID-19: Marketing during a pandemic


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<p class="has-text-align-left"><em><strong>About the Author:</strong> Dr. Khyati Shetty is the Head of the School of Business and Humanities, <a href="https://curtindubai.ac.ae/?utm_medium=Backlink&amp;utm_source=CNBC&amp;utm_campaign=Covid_19_Business_Strategy_Khyati" target="_blank" rel="noreferrer noopener">Curtin University Dubai.</a>&nbsp;With an experience of 11+ years in the industry, Consultancy and Academia, she specializes in the subjects of Strategy, Entrepreneurial Marketing, and Strategic Marketing. She is also an Executive Coach, Innovation Facilitator, and Leadership Consultant to several governments.</em></p>
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<p>When a person faces physical threats, the human body adapts superbly well by going into a fight or flight mode. The body increases its heartbeat&nbsp;to provide energy, dilates the pupil to allow more light and increases the respiratory rate to provide for more oxygen. After the threat is gone, it takes between 20 to 60 minutes for the body to return to normal.&nbsp;&nbsp;</p>



<p>If only a company could respond so brilliantly to the dangers of a downturn!</p>



<p>The uncertainty of doing business during the turbulence caused by the COVID-19 is like entering into a heavyweight boxing ring to compete. The unsettling twist and turns for business leaders are a one-off- the right hook they never saw coming.&nbsp;As former world heavyweight champion Mike Tyson famously said, “Everyone has a plan until they get punched in the face.”&nbsp;Confronted with turbulent times, some leaders swing to a complete defense stance and enter into crisis mode, to prevent the company from getting hurt. They enter a cost-cutting reflex, shrinking operating costs, clamping down on expenses, cutting down on compensation, reducing frills, lowering headcount, and conserving cash. However, this could be a short-term fix with potentially devastating long-term consequences. </p>



<p>This strategy implemented recklessly can create a siege mentality in the organization, which can choke creativity, innovation, and morale. Efficiency is replaced with a constant struggle of doing the job with minimum resources, which could lead to a drop in customer satisfaction, delivery, and customer loyalty, all of which are the nuclei of post-crisis growth. Pessimism engulfs organizations, and survival becomes key- personal and organizational.</p>



<p>On the other end of the spectrum, are leaders who are tempted to implement aggressive, offensive strategies, and seem to defy the gravity of the crisis. Their idea of riding out the storm is to make investments that have long-term pay-offs, employ aggressive pricing strategies, and spend exorbitant amounts on corporate branding. These are the mangers who ignore the early red flags of the shrinking pie of market share, budget-cuts by customers, poor financial results reaching a tip-off point where decision making becomes chaotic.&nbsp;</p>



<p>To ultimately prevail victoriously, a Janus-faced strategy in these turbulent times sounds prudent. A little bit of agility, a little bit of absorption-and, voila, you have a winning strategy. Agility in the boxing ring as in business (operational, portfolio, and strategic) is the ability to duck and weave at the right moment and change positions and directions with ease and speed. Absorption, on the other hand, is the toughness and strength to withstand punches and, in the case of business, is business size, customer lock-ins, high switching costs, network effects, and a war chest of cash. Working this Janus faced strategy may seem like a challenge. But here are a few strategies for consideration to navigate through these poorly chartered waters:&nbsp;</p>



<h3 class="wp-block-heading"><strong>1. Forearmed is forewarned</strong></h3>



<p>The financial strength and earning statements of your business serve as a fuel gauge during these times.&nbsp;&nbsp;If your fuel tank is low, your trip will be a short one. The key is to focus on cash-to-cash conversion cycles and shifting focus from the income statement to the cash flow statement. Cash flow and liquidity analysis can give better visibility to identify choke points and opportunities to improve processes. Cracking down on receivables collection, negotiating better payment terms with suppliers, and just-in-time delivery could be some of the most basic measures, to begin with. Cash flow and liquidity analysis not only guide a company’s strategy but also increases its thrust.&nbsp;</p>



<h3 class="wp-block-heading"><strong>2. Convert fixed to variable costs, where possible:</strong></h3>



<p>In the language of managerial accounting, employing activity-based costing and swapping fixed costs for variable costs is a proven technique during times of crisis. While fixed costs are incurred regardless of business levels, variable costs are only incurred when revenue-producing business is generated. As business volume declines, variable costs are automatically reduced or eliminated, helping to buoy profitability. However, in all this, it is vital to preserving your core business while increasing your flexibility on the fringes. Companies could consider tools like transportation fleet leasing, third party warehousing, and outsourcing. Low fixed costs are an outstanding source of absorption- a store of energy for hard times, much like the fat in the human body.</p>



<h3 class="wp-block-heading"><strong>3. Identifying Customers who give you “Good Revenue” Vs. “Bad Revenue”:</strong></h3>



<p><strong>&nbsp;</strong>It is true that customers have started buying less during this crisis, but the truth is they still buy. Unfortunately, to make up for lost revenues, organizations increase prices, add new charges, and gouge customers. So how is it possible to gain share without giving away the store? Every company has its set of loyal customers. The ones who love your product, offering, and service; love you for who you are. They are the ones who produce the “good revenue,” the kind that is predictable and profitable vs. “bad revenue” from customers who look for excessive discounts, customization and don’t value your core business proposition. </p>



<p>Draw a heat map to identify these high-potential customers and carefully calibrate strategic promotions aimed at maintaining these key market segments, which could be the hot-spots to your business in an otherwise cooling economy.&nbsp;</p>



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<h3 class="wp-block-heading"><strong>4. A crisis is a terrible thing to waste:&nbsp;</strong></h3>



<p>Turbulence creates room for disruption. For example, after the 2008 financial crisis receded, companies like Uber, Pinterest, and Airbnb became the poster-children for the disruption economy. Inaction does not spell safety in volatile times. This is the time to take to your strategy canvas and reflect on your current position. Chances are if your strategic profile begins to resemble most of your other competitors in the market, it is time to start redrawing your profile and explore new frontiers where there is little or no competition. It is also about creating value innovation, which is the cornerstone of a Blue Ocean strategy and reconstructing value, profit, and people propositions to create new value while reducing costs. And to create this, it is the ideas that matter, not your resources.&nbsp;</p>



<p>As the turbulence of the “black swan” event, COVID-19 has taken the world by surprise; it has created extraordinary opportunities for some organization and extraordinary urgency for some. As business leaders navigate the choppy waters, they could learn a lot from this rumble in the jungle. No crisis lasts forever. In the words of someone significant in the Whitehouse in 2009, “It is wise to discover great opportunity in the midst of great crisis.”&nbsp;</p>



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