Category: WavySys News
As you all probably know by now, the CoronaVirus (Covid-19), that started a few months ago in China, is now reaching all parts of the world. As of 11th of March, cases have been reported in mass and measures are being taken by states. As part of our WavySys Community, we inform you about the Covid-19.
We know that this can be scary and disturbing. But let’s not forget that, as for now at least, all taken measures are mainly due to the precautionary principle, which means that in case of medical/scientific uncertainties, we’d better be cautious. Indeed, this doesn’t seem to be as harmful as the regular flu. But we know so little about it and still have no vaccins, that authorities need to take precautions.
Even though you can see in the news such things as gigantic quarantines, basic necessities shortage or an exponential rate of identified cases and deaths, this impression is mainly due to statistics. For example, anyone knows that 1% death rate of 1, 000,000 people makes already 10,000 deads. It is the same here, even with a low mortality rate (see figure below), the more infected people there is, the more people dying we have.
When reading the news we come across a death toll of over 4,000 people and 120,000 infected patients all over the world, which is true. But, when looking at the death number, it is mainly due to the high number of people sick including people that are already sick or/and old, therefore having higher chances of passing away. In other words, having a comorbidity heightens the mortality rate.
So for now, there is nothing to be psychotic about, apocalyptic hollywood films are still far to be true.
What you can rather do is think about what are the measures taken by governments and how the consequences can affect your business. There is a special way to deal with this, which is called Crisis Management, but we will come back to it in another post.
The first simple reflexes we give you here at Wavy are:
Read the news: Don’t look for psychotics news, but rather what are the measures taken by your government and does it apply to your business.
Identify your customers: You need to identify the customers that will or can be affected by the situation and its new measures.
Safety first: There is a difference between being paranoid and rushing into the supermarket to store goods you don’t need, and being precautious. Precaution means to wash hands several times a day and to follow the recommended procedures by the WHO. So, keeping your business out of troubles is a primary concern for sure. But keeping your close environment safe is more. For example, set up teleworking if needed.
Communicate: You really must communicate to all stakeholders about what your actions are concerning this issue. For example, tell your customers if they are likely to see their bookings. And let your team know what you are up to.