Many governments have focused on providing special unemployment benefits to laid-off workers. However, few programs have tried to train and entice workers to switch over to understaffed sectors of the economy. To be sure, this approach is not a magic bullet — in the past months, consumer demand has dropped dramatically, meaning that some reductions in the workforce were inevitable, making unemployment assistance a necessity. Nonetheless, there has been a missed opportunity to help rebalance demand and supply for labor at a critical time, which could soften the blow for many workers. To correct this imbalance, we need mechanisms to assess missing skillsets quickly and rapidly retrain laid-off workers. Doing so requires speedy and seamless collaboration across different sectors, as this crisis cannot be dealt with either by the private sector or by governmental agencies alone.

SOURCE: Harvard Business Review

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After the devastation wreaked by Hurricane Maria in 2017, the Dominican company, Rodney’s Wellness Retreat used a Direct Assistance Grant to rebuild and enhance the company’s resilience. Despite the halt to operations due to the COVID- 19 pandemic, Managing Director of the Retreat, Lucilla Lewis anticipates “a strong recovery”.

SOURCE: Carib-export

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The COVID-19 pandemic has significantly changed consumer behaviours and needs. Several Caribbean firms have strategically repositioned themselves to successfully access new opportunities that have arisen as a result of these evolving trends.  Review the various strategies your company can use to identify your opportunity.

SOURCE: Carib Export

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Brands need to focus on hyper-localisation by connecting with consumers where they are, as Covid-19 has dramatically changed consumer behavior and altered the path-to-purchase, according to Facebook and Boston Consulting Group.

SOURCE: The Drum

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Although the COVID-19 crisis has now hit many UK businesses, the first to feel the impact were those with global supply chains. Companies depending on items manufactured and sent from China suffered when the initial outbreaks began occurring in the de-facto factory of the world. A number of UK manufacturers, for example, had to halt production after specialist parts they were expecting to come from China did not arrive – showing just how fragile a global supply chain can be.

SOURCE: Supply Chain Digital

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African Guarantee Fund for Small and Medium-sized Enterprises (AGF) has today announced its COVID-19 response aimed at reducing the uncertainties facing financial institutions in Africa as a result of the global coronavirus pandemic. AGF’s COVID-19 response is built on the imperative need for commercial solutions over and above the regulatory efforts already provided by the various central banks and governments in the continent. 

SOURCE: Africa Group News Room

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Financial Vanguard investigations have revealed that key corporate institutions are now restructuring their business models to create more resilient operations, less vulnerable to any form of restriction to formal office settings and workstations. They are headed towards institutionalizing work-from-home or virtual office, while seamlessly interfacing with customers and creating more value at less cost.

SOURCE: All Africa

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The coronavirus pandemic has placed considerable strain on small and medium sized food producers. Many have responded with ‘inspiring, creative and innovative’ solutions. REFRAME takes us on a tour of how SMEs in the North Sea region have adjusted their business models.

SOURCE: Food Navigator

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Deutsche Post DHL has reported that it has seen an increasing number of customers and clients diversifying their supply chain networks during the global pandemic. Oscar de Bok, a management board member at Deutsche Post DHL, said: “There is an increased tendency to organise different sources of supply to reduce dependency on one country or one production site in a strategic way.”

SOURCE: Supply Chain Digital

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With the COVID-19 crisis highlighting their vulnerability to external shocks, food and beverage companies are set to increasingly diversify their supply chains and locate production closer to their markets.

SOURCE: Food Navigator – Food Navigator

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