Covid-19 impact: Companies bolster risk handling after a year of bouncers

Companies are focusing more on preparing for unexpected surprises after the shifts in 2020

An Indian manufacturing company which supplies goods to the US and to companies in Europe found itself facing an unexpected problem following the Coronavirus (Covid-19) pandemic. There was a shortage of freight containers. Without containers, the company was unable to use ships to get its products overseas and eventually had to use airplanes to transport its goods.

Such unexpected situations which increase expenses or otherwise pose risks to profits are being more closely studied and prepared for across Indian boardrooms after the Covid-19 pandemic and companies are carrying over their learnings in managing unforeseen risks after the events of 2020.