chewmark

Some excerpts from the article that I’ve included into this post.

1. How can a business scramble to protect itself or calmly deal with the new world?

2. Risk depends on how hasty your response must be. A small problem you have to scramble to protect yourself from with a snap judgement can be more dangerous than a larger problem you have time to deal with.

3. Risk has little to do with what’s going to happen next. It has a lot to do with HOW MUCH YOU CAN ENDURE, and how calmly you can react to, whatever happens next.

So far in Singapore, we had the ability to avoid a the scrambling of making snap decisions because there was time to think through the Covid-19 problem with a deliberate mid-term strategy.

The government and some companies were able to introduce a few measures because they were thinking deliberately.

1. 🦶 With the waning numbers of overseas tourists, there were already little or zero footfalls, so some companies decided to collaborate and switch their staffs to do social distancing ambassadors work: SQ and SMRT

However this could only work for the employees who didn’t train hours after hours of professional skills. Our pilots would have invested time and money (up to $200k) to be the proficient technician that they are to fly a plane. They won’t just grab a GRAB to drive you and I.

💊 And so the pilots were the ones who waited patiently, only to be eventually rewarded with a golden bitter handshake.

2. 🎈 The Government also introduced the Jobs Support Scheme (JSS) to support the economy the last few months, but this too will be ending. In other words, the Lion’s fall from the dizzying height is now nearing the ground.

What else can they do now to support the reality of hitting the ground?

🥼 Will more people be recruited and diverted to healthcare and manpower industries?

🛑 Will they continue to allow loan deferments?

🧢 Is capping bank dividends the only way to provide liquidity and lending to the market?

🏗 Have we truly learned to progress in the construction sector?

So the key question now is, while the government had the time to initially think of cushioning strategies, they have to now share the concrete plans in the next 3-6 months.

A new generation of youths will grow up looking at these responses, and learn appropriately.

The older generation of working PMETs will live their lives according to these measures, and some may not live as well.

WIIFM:

You have to decide if the industry you want to work in can indeed be the resilient and recession proof ones.

In 2009, I left such a recession proof industry and entered careers which rose and fell with the economic tide. Then I re-educated myself in 2017, and relearned time-tested skills.

In 2020 and beyond, you can learn from my failures, and learn what NOT TO BE, and whom you can be.

We don’t have that many lives as a cat.

👉 https://www.collaborativefund.com/blog/scramble/