The Lagos State Government has urged managers to adopt strategies aimed at improving business model outputs to mitigate the impact of the coronavirus pandemic on the economy.
Governor Babajide Sanwo-Olu of Lagos, made the call at the Nigerian Institute of Management (NIM) 2020 annual national management conference themed: “Managing the Impact of COVID-19: Survival Strategies” on Tuesday in Lagos.
Sanwo-Olu was represented by Mrs Ajibola Ponnle, Commissioner, Lagos Ministry of Establishments, Training, and Pensions.
Sanwo-Olu said that the pandemic had disrupted and challenged the status quo which had resulted in a new normal way of achieving organisational goals and objectives.
The governor, therefore, challenged managers on redesigning roadmaps that would drastically minimised the impact of the pandemic and the same time, achieve the organisation’s laid-out goals.
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“The pandemic from the time it came in has disrupted and challenged the status quo and so many things have happened that have led to the world-changing.
“Therefore, managers must adapt to the changes by creating strategies that will reduce the impact of the pandemic on businesses, organisations, and large, the economy.
“At the state level, Lagos started the year with an optimistic budget but it had to be trimmed down in line with the realities of the COVID-19 pandemic.
“Lagos had to watch the environment, learn from the environment, separate sectors, and address feedback from all sectors to improve the outcomes of the state during and post COVID-19 pandemic.
“Therefore, managers must have to take another look at the business models, look at the service lines and find ways to reach customers in a different way, and achieve set out the goals of the organisations.
“Managers must understand that leading remotely as is the current reality is different from leading physically and it requires a different approach as well,” he said.
The governor revealed that the plans to redesign the security architecture of the state to engender a safer business environment were underway.
He urged managers on continuous adherence of staff to all COVID-19 safety protocols on interaction to prevent a potential second wave of the pandemic.
“Managers must think about safety protocols on interaction and constant honest communication must be imbibed going forward.
“Managers must also think about the wellness of your staff as mental wellness issues are creeping into the workplace due to the pandemic but it behoves on managers to be at alert to notice it and address as necessary,” he said.
Dr Tunji Adegbesan, the Founder, Gidi Mobile urged managers to examine shocks and stressors the pandemic had subjected organisations to and to deepen organisational robustness and resilience in preparing for future stressors.
Adegbesan, who delivered the main theme of the conference, said managers must explore their positional scope to take advantage of the new normal to the extent possible.
He said that this was because managers were tasked with the responsibility of ensuring organisation robustness and anti-fragile stand post-COVID-19.
“As a community of managers and professionals, we are tasked with crafting original responses to environmental shock but it is first important to understand what we are responding to.
“We must be very perceptive and proactive in learning and adapting to the numerous revelations that this time has provided.
“The next crisis may not be identical in nature and from all these, we must understand the new practices needed to take the organisation to the next level and guarantee its survival,” he said.
Mrs Patience Anabor, the President and Chairman of Council, NIM urged organisations to embrace and continue to advance technological initiatives to adapt to the new realities of post-COVID-19.
Anabor also urged organisations to learn how to apply their lean resources judiciously in dealing with the prevailing circumstances which had come to be known as the new normal.
“The ongoing coronavirus pandemic has not only led to the loss of an uncountable number of lives in the world all over but has equally changed the world’s economies, workplace dynamics, among others which brought about the technological shift.
“This means that people now work smart using technology to create work-life balance integration.
“These and many more are the survival strategies the whole world has devised in order to keep afloat in the face of a rampaging pandemic,” she said.
She said that irrespective of the present realities and new challenges, the institute was poised more than ever to do more in the coming years toward the advancement of the management profession and the betterment of the Nigerian project.