How Covid, Drought Are Affecting Taiwan's Businesses

The video discusses how a business in Taiwan is adapting to challenges like COVID-19, power outages, and drought conditions. It highlights the company's crisis management strategies, including separating manufacturing teams and enhancing e-commerce efforts. The business has seen growth in health supplement sales due to increased health awareness. Despite challenges, the company anticipates double-digit growth and is optimistic about Taiwan's recovery, leveraging virtual sales channels to meet changing consumer behaviors.

What strategy did the company implement to prepare for a potential COVID-19 outbreak in Taiwan?

• Hired more employees

• Set up a crisis management team

• Increased production capacity

• Reduced working hours

How has the company managed to keep production running despite power outages?

• By outsourcing production

• By separating workers and following government guidelines

• By reducing production hours

• By using backup generators

What change in consumer behavior has the company observed during the pandemic?

• Preference for international brands

• More online sales and telemarketing

• Decrease in health supplement sales

• Increased in-store purchases

What percentage of sales are now conducted through virtual channels?

• 60% to 70%

• 50% to 60%

• 30% to 40%

• 80% to 90%

What is the company's anticipated growth in market share for this year?

• 5% to 10%

• 15% to 20%

• 20% to 25%

• 10% to 15%

What is the company's outlook on the recovery timeline in Taiwan?

• Recovery will be quick, within a month

• Recovery is uncertain

• Recovery will take several months

• Recovery will take over a year

How has the pandemic affected global business opportunities for the company?

• Focus shifted to local markets only

• No change in global business

• Increased health awareness leading to more opportunities

• Decreased interest from international clients