crisis management: over 90% of Indian business leaders feel the urgent need to improve crisis management capacity in the event of a pandemic: study

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More than 90 percent of Indian business leaders believe the COVID-19 pandemic has highlighted the need to improve crisis management capabilities, according to a survey by consulting firm PwC India. About 59% of Indian companies admitted to being affected by the coronavirus pandemic, PwC – India Insights’ Global Crisis Survey 2021 said.

The survey also found that more than 80% of Indian business leaders have already invested in technology in the aftermath of the pandemic.

In India, he added, business leaders were significantly more confident than world leaders in their ability to assess the lessons of the pandemic and implement them. “92 percent of Indian organizations said they were ‘confident’ compared to only 75 percent of world leaders,” according to the survey.

Responses from Indian business leaders were largely in line with the overall results of PwC’s Global Crisis Survey 2021, showing only minor areas of significant divergence in views and ideas.

Of the investigation, PwC said more than 2,800 business leaders around the world have shared company data and personal information on the impact of the Covid-19 pandemic and the future of the business resilience.

“With 99 respondents representing Indian organizations, our report offers an analysis of how our business community is responding and how leaders are applying the lessons of this time to prepare for the next disruption,” he said.

According to the survey, the top 5 priorities cited by business leaders for the future are: accelerating transformations in organizational areas identified during the crisis (99%); adapt the strategy to respond with agility to major disruptions and implement changes (96%); and implement an after-action review process to assess the response to future incidents and crises (89 percent).

The other two are: 5

Puneet Garkhel, Partner and Leader, Forensics Services, PwC India, said operations and supply chain, finance and liquidity and workforce are the three areas where Indian companies have been impacted “Significant” or “critical” because of the pandemic.

“Indian businesses that have survived and even thrived during this time have several fundamental strengths in common, the most important of which is a dedicated crisis response team with a tailored response strategy aligned with their organization’s goals and purpose. Said Garkhel.

According to the survey, employee well-being was another key goal for business leaders in all industries – 90 percent of them agreed (58 percent strongly) that their response to the crisis took into account the physical and emotional needs of their employees.


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