As the world acclimatises itself to a new normal in the wake of Covid-19, businesses are facing new challenges. On 16th May 2020, Mr Rajeev Nayyer, CEO – OGD Services Ltd. (former Essar Oilfield Services India Ltd.), joined the panel of domain experts from sectors such as Oil & Gas, Shipping, Consulting, Cement Industry & Service providers for a discussion on ‘How businesses will function to be sustainable?’. The panel was organised by Innovative Concepts, a leading producer of Oil, Gas & Marine conferences & exhibitions, with key focus on encouraging technical knowledge sharing, informative services, product showcasing and networking.
The panellists discussed many important points like additional policies Government can consider to tide over the crisis, how pandemic planning should be a part of future business models, sustainability of essential business processes, safety of oil field workers and seafarers at such times, sustaining employee remuneration amidst revenues being hit, community engagement in current times, and the key lessons learnt through the course of this pandemic.
Mr Nayyer raised many important points during the discussions. He asserted that it was important for businesses to prepare for the new normal, and the only way to achieve that is through a fundamental change in the mindset of people and businesses. Organisations should build their resilience to face short term pains, and emphasis should be laid upon efficiency, productivity and safety across functions. While maintaining stakeholder relations might get challenging at such times, organisations must work towards a mutual understanding between all parties to rework commitments. This is the key, as the post covid-19 recovery is stated to be in stages, and will largely depend on the understanding and plans of the stakeholders. While short term employment challenges is bound to arise, circumstances are bound to improve in times to come as industry-ready young executives and students will be in great demand. Mr Nayyer advised students on the importance of building their competencies by undertaking internships and learning new things.
The insightful discussions gave rise to many ideas and solutions that can ensure business sustenance and continuity, despite challenges arising out of the ‘new normal’.