With the outbreak of COVID-19 (coronavirus), global business and economic disorder and uncertainties were increased. Researchers suggest that the outbreak of COVID-19 will decrease the overall annual gross domestic product (GDP) globally from the 2.5 percent expected in January 2020 to 0 percent. Companies contend with the implications of the outbreak in this crisis management situation, to achieve business objectives and consumer requirements.

COVID-19 spills on corporates are expected to result in further control of places of work and travel, reduced costs, delayed investment, disrupted supply chains, and financial-market instability. In the event of a crisis, immediate action is whats required to protect mid-and long-term results. To be able to do so, organizations should have a professional crisis management plan in place one that addresses employee well-being, brand reputation, finance management, supply chain, and legal issues that the crisis might trigger.

The strong effect on businesses is that all workers are discouraged from reporting to their office, while they are permitted to operate from home. Only workers involved in critical services may engage in their assigned workplace. Even then, employers will have to follow such measures, for example decreasing employee numbers to a minimum of 50% of the total workers usually present. Employees' temperatures shall be registered and recorded on a regular basis; workplace sanitizers shall be provided; sanitation and cleaning required and guidelines shall also be prepared and implemented on welfare distance.

The best concern for companies and governments during the crisis is the well-being of citizens of individuals. Businesses will contribute and complement these measures by getting a competent crisis management strategy in place. A successful crisis management strategy will also help companies ensure the well-being of their people, protect their capital, and maximize their capacity to perform optimally when the odds are stacked against them.

REQUIRED:

1. Evaluate how to adapt an appropriate strategy during the corona virus lock down and what to anticipate after the crisis is over?

2. Evaluate how companies can solve liquidity, profitability, and enterprise value in uncertain times. Suggest relevant methods or steps to address short-term liquidity challenges.

3. Appraise how organizations can act now and shift focus from crisis response to building business resilience and maturity.

4. Recommend the essential steps that the businesses should take in the event of a business crisis.