Don’t Turn a Health Crisis into an Economic Crisis

brown and white bear plush toy

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In 2008 the world experienced an economic crisis.

 

In 2009 Dr Eliyahu Goldratt did a cause and effect analysis of the 2008 economic crisis. He concluded that our reactions transformed a financial crisis into an economic crisis.

 

In 2020, we face another economic crisis, initiated by our reaction to a health crisis. We do not learn from the past.

 

Some headlines illustrate my point:

Yes, it is worse than the flu: busting the coronavirus myths

Timeline of a virus

11 Myths about COVID-19 in South Africa

 

Coronavirus update: nations and companies react

Coronavirus will likely knock SA mining, tourism and telecoms – report

Five trends impacting SA’s apple and pear industries – and yes, the coronavirus is one

Israeli airline eyes mass job cuts over coronavirus

The Leader Of The Religious Sect That Spread Coronavirus In South Korea Says Sorry article contains a graph of the prevalence of COVID-19 which shows the expected trend for an outbreak of influenza.

South African tech stocks killed

 

Please, let us not change a health crisis (as bad as it is) into an economic crisis. We must think before we do.

 

We must think of retaining customers without delivering physical products. We must focus on the service offerings to wow the customers and maintain the relationship. The demand will still be there when the supply chain is restored.

 

We must plan to use the extra capacity in transport to ensure that we transport products as they become available – even in “uneconomical ways”.

 

We must adapt and protect jobs.

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