(CEO:-Mr. Naveen Prasad)
Private organisations have to shoulder a greater responsibility as the public health is gregariously exposed to the risk because of the covid-19 pandemic. Conglomerates have pledged to manufacture ventilators so as to give complete support to the National Health systems. They have even generated affordable hand sanitizers to boost the hygiene levels and ensure smooth workability of supply change. The multi dollar funds raised are helping government to wipe off the covid-19 pandemic. It is also resulting in the support of the small businesses and the needy.
These partnerships are bringing positivity and hope all over the globe. In fact, the scale of businesses is growing by leaps and bounds. Somehow, there are other issues that are gradually becoming more concerning.
It goes without saying that covid-19 pandemic has given up a new way of working to the government and corporate Giants. They are coming together and contributing to ensure your better public health and mitigate safety challenges. But how far is all this sustainable?
Edelman annual trust barometer survey clearly says that people neither have a lot of Trust or distrust on corporate work ability. When asked with a certain number of people, a major section of people showed support to the corporate organisations and even mentioned that the economy just cannot do without the contribution of corporations. Whereas, there were also a bunch of people who completely disagreed and said that the economy will not actually recover from the hard work of operations and brands. People are laying down their trust and hopes on the corporate organisations as well as on the government entities. They say that the corporates should carry out the safety measures and the government must fill up the shortcomings.
Slowly and steadily, the new normal is giving opportunities to corporates to shake hands with the government. The government has to take care of the matter and manage things very imperatively in a very short time span. The act of balancing must include management of short term fiscal policy. but that should not compromise the economy as a whole. Everything must be planned in a way that remains sustainable for the long term and does not impact the growth of the country. Also, the environmental impact should be considered as a fair challenge.
Short-term manufacturing projects from the corporate Giants are helping in meeting up the current demands. The government should inspect that whatever changes are taking place in the economy do not specifically affect the economic growth on the long term basis.
Government must make Investments in the project that seem helpful and apply strategies that can possibly reduce the impact of coronavirus disease. The corporate organisations need financial support and that is when the government must play a role.
The financial risks can reduce efficiency of Corporates. They can also result in technological setbacks. Government must partnership with the corporates in order to scale up the Technologies. South Korea took environmental friendly steps to mitigate the coronavirus pandemic impact. The strategy became famous and now the corporate Giants must also follow the suit.
If we ever analyse the contributions of Corporate sectors in the growth and welfare of the economy, 2020 has been the most crucial year for that. As people celebrated the new year, covid-19 pandemic was exorbitantly spreading. Most of the corporate organisations had already prepared to confront the pandemic. One of the surveys even showed that 90% of the funders had changed the way they provided grants. The financial support was now based on global pandemic covid-19 instead of any other issue.
The unprecedented challenges of covid-19 brought a huge pressure on the economy and corporates. People were recklessly donating and making efforts to eradicate all the unwanted changes that have taken place. More than earning profits, it was now about survival and sustainability. The focus had totally shifted from growth to Survival in 2020. The sector knew how to respond to the crisis and it was positioned to work that way. Economists and entrepreneurs have far and wide analysed the situations. It is clear that the pandemic requires a deep rooted response from the economies. the philanthropic corporate practices must continue to exist so that the existing and upcoming challenges can be gracefully met.

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