The Tehri dam in Uttarakhand one of many largest in India can dispense 15,500 tons of water per second from its spillway or gates. Hold on to that determine for a minute.
Every certainly one of us is uninterested in listening to the phrase unprecedented. Affix it to justify layoffs, closures, funds cuts…it is a massacre on the market. But there is a tomorrow, and it will probably be a lot like yesterday. Here’s why.
What we find out about dwelling on this planet because the species that’s on high of the meals chain is easy. We are social. Conspicuous consumption and conspicuous leisure, when these phrases have been coined by economist Veblen on the finish of the 18th century, he argued that the rich folks not solely spend cash to distinguish from the remaining, in addition they spend their time in another way from the remaining on actions that aren’t productive in nature, equivalent to artwork, leisure, sports activities and extra.
Just through the pandemic, Apple launched a new iPhone, Hermes in China recorded $2.7 million in gross sales on the day it reopened, what is now termed as ‘revenge shopping’. The serpentine queue to purchase alcohol in India, even when the worth is 70% greater at some locations, reveals us one factor – we love ourselves. Being social additionally means we like to do nicely, present it off, earlier than doing good to others.
Corollary, Veblen’s treatise additionally included a time period known as ‘Pecuniary emulation’ which argues, low-status folks emulate the revered, high-status members of their socio-economic class, by consuming over-priced manufacturers of products and providers perceived to be merchandise of higher high quality.
In sum, the haves will spend in any case, the haven’t’s will maintain making an attempt. Together, each cohorts maintain the financial system chugging whereas buzzing some good’ol tunes on capitalist created music pods and apps.
Today, we’re continuously witnessing firms and startups taking every kind of evasive maneuvers. This article is not about doling recommendation that urges them to not downsize or shut. If it was unviable, it will probably be unviable, until needed actions are taken.
My level is about how the brand new regular submit Covid world received’t be drastically totally different from what we’ve got recognized prior to now decade. Timeshare based mostly enterprise (resorts, co-working areas) might have it arduous for a bit longer, however it will probably be one thing just like the additional safety test we received used to at airports after 9/11. We simply need to get to those locations a bit early, get a thermal scan and be seated aside. All this, thoughts you, solely till a vaccine or remedy is developed.
If the world needed to change after any earlier pandemics, world wars, HIV dangers, or even when each driver wears seat belts after seeing the accident stats stacked towards the motive force, we’d have been a dwelling our lives a lot totally different.
Most inside memo that comes with pink slips talks about decreasing prices to extend effectivity. Some are speaking about wishful income and revenue for the primary time. Well, price discount and revenue maximization are one thing to be repeatedly pursued, pandemic or not. Companies like Toyota and L&T who’ve survived world wars have perfected price discount as a lot as revenue optimization.
Business with long run imaginative and prescient has to keep away from making drastic adjustments in organisational construction, human capital and course of. The thought of everlasting work at home sounds like a price and commute saving possibility proper now. But it is at the moment predicated on a common leveler – the lockdown! People are staying at dwelling and doing the job because of lack of another possibility; and in fact, additionally as a result of everybody else is.
Once zones after zones come out of lockdown, managers will anticipate their groups to huddle collectively to catchup on misplaced targets. Those who’re in workplace could have an edge over others dialing in from their dwelling sporting pajamas. The dwelling certain staff will miss the grapevine, the water cooler gossips and camaraderie which can be constructed over, nicely, the chai (sutta) break. We are social, did I say that already?
Mumbai handles over 900 flights a day, if one doesn’t take off, that’s what you’ll learn within the information. The layoff and downsizing, actually feels like, Covid-19 plus lockdown was an excuse to do what was required (shut, downsize), however would have been politically incorrect or dangerous optics if finished on a sunny day. News about firms shutting down makes it to the headlines, not those the place it is enterprise as standard. Let us not consider that enterprise closure as a common state of the union.
The total pandemic is a big pace bump without spending a dime stream or folks and dangerous sentiments decelerate the free stream of cash and spends. We usually are not in a recession attributable to wars (property destruction) or dangerous fundamentals (2008, sub-prime). We have simply hit a dam wall; we’ll spill out in public, placing Tehri Dam’s 15,500 tons per second to disgrace.
Sreeraman Thiagarajan is co-founder and CEO of Agrahyah Technologies and aawaz.com)