Even though a great many companies have resumed operation, their business tends to be rather slack due to the long-term shutdown under the impact of the pandemic. To boost the morale, Professor Su Yong from Fudan University School of Management gave 3 pieces of advice for business leaders:
1. Assess the loss and list the resources available for recovery.
2. Remain calm.
3. Keep in mind that your employees rely on you and try to appease the employees.
Meanwhile, business leaders should try to collect debts, trim unnecessary costs and maintain cash flow.
Professor Su emphasized the urgency of the digitalization and the significance of the corporate culture in surviving the crisis. He also introduced his “Five Capability” theory, meaning that leaders who cope well with the crisis are often equipped with sympathy for the employees, influence over the employees, vision for the enterprise, determination to carry out audacious plans and control over his management.
