Dr. Gilbert Michaud, assistant professor of practice at Ohio University’s Voinovich School of Leadership and Public Affairs, was recently interviewed by Centered to provide insight on how tech companies can boost their resilience during an economic slowdown.
In the article, “Pivot, revisit, retool: Boosting small business resilience during a downturn” by author Katie Pyzyk, Michaud highlighted that while small businesses continue to suffer the most during the pandemic, their flexibility may also allow them to more easily change their plans to bounce back from the losses. Another positive attribute is in how tech-oriented business are specifically “helping other businesses with virtual remote adaptation and work,” Michaud said in the article.
By pivoting to different models and operations to meet new demands, small tech businesses can leverage their flexibility, Michaud said. As an example, Pyzyk cited how numerous 3D printing companies are transitioning to printing personal protective equipment to fill a current gap in the market.
Michaud also suggested that companies continue to let employees work from home even after the stay-at-home orders are lifted. He added that the work from home model might end up being a more cost-effective way for some tech businesses to operate, at least in the short-term.
Michaud argued that working from home not only holds potential to reduce costs for office space but may actually also boost employee productivity and efficiency.
“A lot of folks realize workers can be productive at home. Many studies have investigated this, and researchers quantitatively have shown people may be working harder and longer at their house,” Michaud said.
To read the full article, visit centered.substack.com.