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Post COVID-19 Revival & Reset
A Study with Specific Reference to Automobile Industry, Chennai
Tamil Nadu
Christina E. J., III BBA. & Surya Prabha. S., III BBA
Jayashree. M., Assistant Professor
Abstract
The key objective of a company's recovery stages is to quickly identify and address the sources of its problems that had led to its downfall due to COVID-19. It is necessary to determine whether the business can be saved or if the situation cannot be fixed. COVID-19 has put all the automobile industries in crisis. The local impact of the COVID-19 crisis is still highly collapsed. This paper takes an in-depth look at the impact of the COVID-19 crisis on the automobile industry. It provides real-life examples of responses from the high-level and low-level management of the company Precision Pressings on their recovery stages. Finally, the paper offers a perspective to discuss the crisis’ and how they are managing to recover from the downfall and what stages do they follow to recover the business.
Introduction
Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.
According to the Ministry of Statistics, the economic impact of the 2020 coronavirus pandemic in India has been predominantly disruptive. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1%.
Industrial companies are forced to overcome the instantaneous impact of COVID-19 as both their manufacturing and supply chain operations are being shattered, and their customers’ operations face similar challenges. This is having an exponential effect down the whole supplier network, hitting Industrial Equipment companies with a lag, but at full force, nonetheless.
This is only the beginning part of the article. PLEASE CLICK HERE TO READ THE ENTIRE ARTICLE IN PRINTER-FRIENDLY VERSION.
Christina E. J., III BBA. & Surya Prabha. S., III BBA
Jayashree. M., Assistant Professor
Chevalier T. Thomas Elizabeth College for Women
Chennai 600011
Tamilnadu, India
jayashree@cttewc.edu.in
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