Business process management is a fundamental component of any organization’s growth and development. Essentially, it defines the prepared and capabilities of a company to withstand the challenges during their exploration. The global COVID-19 pandemic caught many managers unaware and not ready for any such eventualities in societies. Therefore, the survey by HSBC reveals some of the implications of the crisis upon many entities in the world, involving virtual work, health concerns and technological developments.
HSCB’s research indicates that almost all businesses have been affected by the pandemic in one way or another. One of the primary pieces of evidence is the design of work culture; employers and managers have realized the benefits of staying closer to the employees and other personnel in the chain. Today, institutions have adopted the work from home formulae to ensure they continue their productivity even amidst such turmoil.
Likewise, there has been an increasing focus on technology. Palmer (2021) asserts that the digital industry has become imperative in modern business, creating opportunities and linking people to the new normal behaviors in response to COVID-19. Further, resilience to these challenges seems achievable through sustainable plans, valuing consumers, equality in human resource management and profitable financial decisions. HSCB advances the finding that many administrators have understood the value of the environment, workforce and consumers more than ever before.
The present of BPM principles in a unit helps the members understand the trends in the market and create strategies for future operations. Accordingly, such firms can recreate and rebrand themselves in all seasons because they have working systems. One of the overriding findings is that automation may become a practical technique in the coming years. Such revelations will prove valid over the years.
References
HSCB. (n.d.). Resilience: Building back better.
BPM. (2021). A full overview of business process management.
Palmer, N. (2021). What is BPM? Web.