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Companies that are thriving during COVID-19
After almost a year of the devastating pandemic that paused the world and got it into lockdown mode, companies are working hard into finding new ways of staying afloat, by adapting their services to operate with the necessary measures to stop COVID-19 spread or to opening new roads for different ways of making businesses that allow them to adapt and overcome the pandemic, according to Francisco D’Agostino.
All the industries at a worldwide level suffered consequences due to the pandemic and some managed to thrive in these trying times. These companies that managed to succeed are the new examples to follow in the look for success for new entrepreneurs.
One of the companies with a higher growth during the pandemic was the popular “Zoom”. During the pandemic year, this company increased 413% in the market value and became one of the most used apps for video conferencing at the same time that everything started to change to a remote option.
Schools, jobs and many other industries started applying remote structures to keep activities running and, in the cases that this was an option, it has been said that remote working has brought more productivity and positive results for companies around the world.
With this picture, then Zoom became a synonym for communication.
Another company that has been extremely profitable during the pandemic is “CrowdStrike”. They started recently, in 2019, and became the big thing because of the same reason above. As companies start applying remote jobs, then the need for security increases and the cyber security companies started thriving more by the day.
CrowdStrike increased 357% its market value and gathered more popularity when some hackers tried to compromise the company in an unsuccessful attack. However, their rival was compromised, and this gave them a huge boost among people.
There are hundreds of companies that thrive during the pandemic and we could continue talking about those as a way to inspire young entrepreneurs. However, what matters from this is the way these companies find their way up in a complicated situation.
All online services improved because COVID-19 shows us a lot, but one of the things that taught us is that online services are vital to keep the world going in a situation that no one imagined it could happen.
Now, an important part to notice is how investments increased for people of all ages. It is a trend to avoid having money in the bank without producing anything because of multiple reasons, but one of those is inflation.
So as a way to protect from inflation, people started investing their money and creating and interesting move, since we are talking about young people joining a trend that wasn’t really of interest years back.
One of the industries that thrived the most during the pandemic was videogames. Now with this industry there is a peculiar case that is worth talking about… the GameStop case.
Let’s talk more about this case.
GameStop Corp is a company founded in 1984 in Dallas, Texas. Now, this company has been famously known as your place to go to buy games, but the recent change into online gaming made the company start experiencing difficult times.
The stocks of this company had been struggling for a long time. GameStop has been losing money for years as sales of video games increasingly go online, and its stock fell for six straight years before rebounding in 2020.
But… what really happened in 2020?
Well, the situation was that there were a lot of investors that put their money into believing that stocks options were going to decrease, as the trend showed on earlier years.
However, a bunch of small investors from Reddit didn’t agreed and they decided to change the trend. They started exhorting each other online to keep GameStop’s stock rolling higher. The wild discussions are full of sarcasm, self-deprecation and emojis of rocket ships signifying belief that GameStop’s stock will fly to the moon.
To illustrate more about the trend, this company was worth $1.3 billion on the stock market on New Year’s Eve was worth about $21 billion at the end of last week, roughly the same as Kellogg’s, the cereal maker, which, unlike GameStop, is solidly profitable.
After millions in losses, the situation is raising some concern that investors are taking excessive risks, but it also shows how trends can shift completely by the day.
If GameStop will maintain this trend is yet to be seen, since this company has had losses for several years.
The COVID-19 pandemic made the whole world face a new reality, nor in the worst scenarios was it expected to experience such a large commercial and operational stoppage. However, countries like New Zealand, Australia and Chile in the industrial sector managed to adjust and establish business operations in order to guarantee timely supply and also under the corresponding health protocols.
Therefore, it is extremely important to break with management paradigms and myths. These planning processes are based on studies and analysis of scenarios in the short, medium and long term in their traditional scheme. This is by applying the best practices created Strategic Business Management (GENE), to support and accompany the business sector to find paths and get out of the adversity.
Management is of vital importance as it allows planning, organizing, directing and controlling each of the processes and activities that take place within the company, explained Francisco D’Agostino.
Currently, the markets generate greater demands and demands, therefore it is important that companies have hierarchical levels that allow them to direct all their activities to the fulfillment of the objectives, this would not be possible if there were not a level where their work exclusively It corresponds to the decision-making process, the definition of the guidelines that must be followed to achieve the established objectives, and above all the responsibility they assume by belonging to that level.
The success or failure of the business totally depends on this level, the ability it has to direct a certain group of people and thus achieve the fulfillment of the objectives as a whole and not individually is the reason why the existence of a Management is of vital importance as it allows planning, organizing, directing and controlling each of the processes and activities that take place within the company.
Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.
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