Continuity in a COVID 19 World

Continuity in a COVID 19 World

Lets plan for a better tomorrow

March 2020, A significant time for the world of business, as the Covid 19 pandemic made a huge impact on individual’s day to day lives, it affected the businesses in many forms including the Construction Industry.

In this uniquely challenging environment, it is important to make business more resilient. The rapidly-changing COVID-19 picture means one false move can seriously impact industry performance and value.

Having said that, the following article published on 21st March outlines how the pandemic has currently affected the Construction Industry in Sri Lanka. https://constructionreviewonline.com/2020/03/effects-of-covid-19-corona-virus-on-the-construction-industry/

So What can we do?

First priority is and the main one is health and safety. We believe that being an industry which usually involves safety requirement, now needs more attention to detail.

Stabilize cash and liquidity and take a realistic view of current options: This means identifying and acting on opportunities for strategic and operational financial change. Establish solid ground for a turnaround by assessing the liquidity position and creating a management plan.

We at Welkin Constructions have identified Five key steps turning things around and we believe to give the utmost level service to our stakeholders within the process.

Identify options
Quickly and effectively assessed our options to see if we can help the community in any form. We have now deployed a Free technical advisory service line for DIY solutions

Stabilization
In order steady the business and assess its financial position, we have taken some crucial internal decisions without making any of our employees redundant.

Turnaround strategy
After calculating financial paybacks of various options, we will make sure to come back to the market with a most affordable pricing plan as we know that its important to build together.

Execution
We have ensured full delivery of the turnaround plan to our value chain. Our suppliers are important in order for us to provide a better service.

Value realization
We have done detailed analysis to understand risks and costs of each option, including contingency plans and how we can provide the best value to our clients.

We at welkin constructions, promise to build your home of tomorrow! Until then let’s plan and dream because every dark cloud has a silver lining!