COVID-19: PM Modi gives 5 business ideas on redefining work culture

Prime Minister Narendra Modi suggested five ideas by writing a blog on LinkedIn where he also shared his thoughts on how COVID-19 has affected the world.

PM also tweeted "As the world battles COVID-19, India's energetic and innovative youth can show the way in ensuring healthier and prosperous future. Shared a few thoughts on @LinkedIn which would interest youngsters and professionals."

Here are five business ideas that can be quite beneficial for India.

Adaptability:

The need of the hour is to think of business and lifestyle models that are easily adaptable.

Doing so would mean that even in a time of crisis, our offices, businesses and commerce could get moving faster, ensuring loss of life does not occur.

Embracing digital payments is a prime example of adaptability. Shop owners big and small should invest in digital tools that keep commerce connected, especially in times of crisis. India is already witnessing an encouraging surge in digital transactions.

Another example is telemedicine. We are already seeing several consultations without actually going to the clinic or hospital. Again, this is a positive sign. Can we think of business models to help further telemedicine across the world?

Efficiency:

Perhaps, this is the time to think of reimagining what we refer to as being efficient.

Efficiency cannot only be about- how much time was spent in the office.

We should perhaps think of models where productivity and efficiency matter more than appearance of effort.

The emphasis should be on completing a task in the specified time frame.

Inclusivity:

Let us develop business models that attach primacy to care for the poor, the most vulnerable as well as our planet.

We have made major progress in combating climate change. Mother Nature has demonstrated to us her magnificence, showing us how quickly it can flourish when human activity is slower. There is a significant future in developing technologies and practices that reduce our impact on the planet. Do more with less.

COVID-19 has made us realise the need to work on health solutions at low cost and large scale. We can become a guiding light for global efforts to ensure the health and well-being of humanity.

We should invest in innovations to make sure our farmers have access to information, machinery, and markets no matter what the situation, that our citizens have access to essential goods.

Opportunity:

Every crisis brings with it an opportunity. COVID-19 is no different.

Let us evaluate what might be the new opportunities/growth areas that would emerge now.

Rather than playing catch up, India must be ahead of the curve in the post-COVID world. Let us think about how our people, our skill sets, our core capabilities can be used in doing so.

Universalism:

COVID-19 does not see race, religion, colour, caste, creed, language or border before striking.

Our response and conduct thereafter should attach primacy to unity and brotherhood.