The Effect of Corona on Employment and the Entrepreneurial Solutions to Face It
I am Tamara Abdul Jaber
I would like to thank forus.jo under the, one of the initiatives of the King Abdullah II Fund for Development, aimed at enabling Jordanian youth to develop their careers and professional journeys.
We are going through very difficult global circumstances of Coved-19, and I think that "Corona" will be continued for a long period. Unfortunately, this will result in two main things:
- Our social lives will not return as it was before Corona, because the percentage of people who have opened electronic wallets and have become dependent on "online banking" and e-commerce has become very high, which changed the hearts of our lives, and for a long time we will not meet personally, but through smart applications and the Internet.
- Many people will be at risk of losing their jobs and this is a reality we must think about.
Consequently, we should all take advantage of this quarantine period by building new capabilities and skills that can help us develop ourselves and societies in order to open the doors for opportunities in the future, some of us can develop their business ideas, possibly into a pilot project. From here we will talk about the tools that we will need to fly our pilot project and how to start this project.
We will now talk about "designing the business model" for any organisation that will assist you in creating your project and thinking creatively for managing this project and building the appropriate strategy.
Strategy is the path consisting of a set of activities, steps and goals that will lead us to the success of the strategic plan. Because of the wealth of information that should have been put in the strategic plan in the past. Management scientists gathered to develop the concept of strategic management by restricting only to a one page using a "business model canvas" to help us understand the strategic plan in a simple and a commonly-used language. It also aims to standardise the working group’s common language and coordination of ideas.
The business model design can be divided into:
- Clearly establishing the company’s added value to customers and what are customers’ needs,
- Specifying the strategy of reaching out to customers, and stating the business owner's relationship with the customer,
- Objectifying the infrastructure, which consists of physical tools needed and/or services to be provided,
- Briefing income and expenses projections.
Before we formulate the business model, we have to go through a procedure preparing to start the project, starting by deciding who will work on the business model, view the business models of large international companies such as Kinder/IBM, it is advised to look at the videos related to the design model Business on YouTube.
In short, the business model canvas is a strategic tool to document and present our ideas in the form of a product value proposition, company’s infrastructure, customer profiling and finance projections of any project.