Now is the time to press the reset button: Helping India's companies to become more resilient and effective in overcoming the impacts of COVID-19, climate changes and other crises.
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COVID-19 is the pandemic caused by one of the coronaviruses. This virus was not known before the outbreak in Wuhan, China, in December 2019. By January of 2020 it was declared to be a global human health crisis. The deaths and illnesses caused by the virus caused extensive fear and anxiety among people in all societies. The pandemic slowed economic activities nearly to a halt. The challenges of how companies should respond to the disruptions in their supply chains and how they can build more resilient systems, must be systematically addressed. The authors of this paper highlighted essential factors which can help companies to overcome this crisis and other types of crises, by learning from the approaches taken in India, which has a unique and diverse economic system. The Analytical Hierarchy Process (AHP) technique was used to identify the essential factors which can help companies to improve their resilience so they can recover during and after the COVID-19 pandemic era and potentially in other similar complex crises. The results of the AHP evaluation were prioritized by performing a sensitivity analysis to prioritise the essential factors. The "Role of governance" was found to be the most important factor that can be used to help in rebuilding industries and societies and in helping them to become more resilient to future severe shocks. The results of this research were used to develop recommendations for company managers, practitioners and policy-makers. The authors hope that this advice will help India to become a stronger nation with more resilient companies, which are better prepared to anticipate and to respond to future crises. We hope people in other nations will also benefit from the finding presented in this paper.
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