90% of Indian business leaders focus on improving crisis management: Study

PwC’s Global Crisis Survey 2021- India Insights said that around 59% of Indian business has been adversely impacted by the coronavirus pandemic.

The survey also revealed that more than 80 percent of India’s business leaders have already invested in technology after the pandemic.

It said that in India, business leaders were significantly more confident than global leaders about their ability to evaluate the lessons of the pandemic and put them into action. “92 per cent of Indian organizations said they ‘trust’, while global leaders have just 75 per cent,” the survey said.

The responses from India’s business leaders were largely in line with the overall results of PwC’s Global Crisis Survey 2021, showing only minor areas of significant divergence in views and insights.

Regarding the survey, PwC said that more than 2,800 business leaders from around the world shared company data and personal insights into the impact of the COVID-19 pandemic and the future of enterprise resilience.

“With 99 respondents representing Indian organizations, our report provides an analysis of how our business community is responding and how leaders are applying the lessons of this era to prepare for the next disruption,” Said it.

According to the survey, the top 5 priorities cited by business leaders going forward include rapid changes (99 percent) in organizational areas identified during the crisis; adopting strategies to respond tactfully to major disruptions and implement changes (96 percent); and implementing a post-action review process to assess future events and response to the crisis (89 percent).

The other two are: actively work on increasing resilience in the near future (86 percent) and change corporate strategy in response to the pandemic (51 percent).

Puneet Garkhel, partner and leader, forensic services, PwC India, said operations and supply chain, finance and liquidity, and workforce are the three areas in which Indian businesses experienced a “significant” or “significant” impact due to the pandemic.

“Indian businesses that have survived and even thrived during this period have had several key fundamental strengths, the most important of which is a dedicated crisis response team, coupled with a fit-for-purpose response strategy. which is aligned with the goals and objectives of their organization,” it said. Garkhel.

According to the survey, another major focus for business leaders across all sectors was employee wellbeing – 90 percent agreed (58 percent strongly) that their response to the crisis took into account the physical and emotional needs of their employees.

This story has been published without modification in text from a wire agency feed. Only the title has been changed.