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Crisis Challenges Of Business Leaders During The Pandemic

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We are all living history right now. Recently, things have happened that no one could have imagined or predicted: a worldwide quarantine, a shutdown of a significant part of the world’s economy, and the fastest stock market drop in the century. The COVID-19 pandemic caused so many economic changes, which, according to actual forecasts, will lead to a crisis with unprecedented force and scale. Changes are so intensive that they might create an impression of chaos and an enormous amount of uncertainty for business leaders.

COVID-19 has transformed quickly from a health crisis into an economic crisis and has spread with a similar strength around the globe, embracing almost all territories and commercial fields. The current situation proves that the global economy is one interconnected system. So that one area of the complex arrangement might disrupt other reality sites with unprecedented force. In such a short time, we observed the processes of disruptions, from one sick to millions infected, from one country to the entire globe, from fear to panic, and from health problems to the economic recession.

For leaders, the global pandemic COVID-19 has brought prevalent global health problems and broad economic crises with an unknown potency. However, a situation like COVID-19 can impact many businesses concerning their commercial effectiveness and performance. As leaders, we need to adapt to different circumstances quickly and efficiently. We need to think simultaneously about survival through a pandemic time and about a future created according to new market rules. For many companies, this will be an exceptionally tough time. For many, there will be no way to survive and recover from the crisis except through complete business model reconfiguration. 

The possibilities of failure are significant because nobody knows how long the pandemic will last and how severe the recession will be. In this situation, we are witnessing some companies lock themselves into inertia mode, thinking that this is only a short-term crisis and that soon everything will return to normal. It is a risky strategy without clear-headed assessment and preparation for different possible scenarios. If you don’t see ahead far enough to control the effects of this crisis in the short and long perspectives, your business may lose some potential or even fail.

Undoubtedly, this crisis creates so many unknown areas for exploration. For example, during unpredictable economic fluctuations, you need to understand how your company has been affected, what kind of mitigation you need, and how quickly business operations will recover. A crisis requires high-performance management during this unprecedented time and intensive strategic effort. “The business world is changing rapidly and becoming less predictable” is painfully accurate. It is such a challenging time; we do not know if this is an end to the old secure economic order or if it is the beginning of a new market order full of business opportunities. Indeed, it will be a testing time for our strategic competencies. 

Do not waste the opportunities that have arisen from this crisis. If you’re unwilling to adapt when a crisis hits and instead try to entrench yourself in defending your position until the changes pass, it might be the most unproductive time of your life. Dynamic changes in the economic environment might be overwhelming right now. Still, as with every significant disruptive challenge, this situation creates new opportunities for those who can understand them thoroughly and know how to capitalize on them. Every crisis leads to threats and new opportunities at the same time. The consequences of the COVID-19 pandemic be negative or positive from your company’s perspective. The impact might depend upon your understanding and interpretation of the business ecosystem changes.

People Need Leaders During the Crisis Time

COVID-19 economic crisis is an unprecedented time, full of unusual circumstances and, for many, extremely difficult to manage. But, on the other hand, it might be the most valuable business lesson in your professional career. The business system built and operated quite well is endangered, and our influence is somewhat limited. However, the COVID-19 crisis intensifies economic changes and might be the beginning of something new, valuable, and unique for the company. Leaders might feel overwhelmed during the crisis; therefore, relaxed attitudes toward a new reality, changes, and possible transformation are clues for the best results. Being optimistic about the future and realistic about the present is the best personal strategy to conquer a crisis. The strategy should answer painful, current problems: uncertainty, lack of purpose, fragility, scarcity of resources, and stress. We need a strategy to effectively solve these problems and leaders who can reduce tension, act purposefully, regain control, capitalize on present resources, and defeat the stress in practice.

Energy Management

This crisis is full of strong emotions. We are worried about our health and families; we are concerned about businesses and people in our company. Pandemic fatigue is taking severe effect on many business leaders, with some veering towards burnout. A survey by LifeWorks and Deloitte Touche Tohmatsu Ltd found that most senior leaders (82%) reported feeling exhausted. (The Canadian Press, 2022

The key is to observe and manage the level of emotions but not let them cumulate into a panic. Allow yourself and your people to feel the frustration, but at the same time, try to use emotions as the reservoir of energy for positive changes. People are looking not only for strategic direction but for personal support and hope for a better future. The best leaders for bad times are truthful and emotionally stable, especially when concerned people become fearful and less engaged. Through balanced, realistic, but positive attitudes, leaders prepare people to be resilient and ready for strategic transformation. The most effective leaders can create space and climate for collaboration, compassion, and support during a crisis. Handling the frustration of uncertainty is not easy; however, it is necessary during a problem because these emotions might heavily influence our behavior and the results of our actions.

Strong emotion might completely distract behavior and productivity or transform energy for better adaptation. The current situation might be an extreme existential crisis for many organizations. And it is not entirely surprising that people are anxious, and sometimes they are locked in inertia and old unproductive habits this time. But you, as a leader, have a special responsibility. People expect a clear mind, a cool head, a healthy, positive attitude from you, and the new directions for an uncertain future. You need to be aware of the concerns of the people around you, but you cannot let their negative and exaggerated emotions influence your decisions. Instead, read the feelings of yourself and other people, and try to control the energy level by redirecting this enormous potential to the current goals. Nothing will be better, unlike everyday work on a new strategy. Even if success is impossible during a crisis in a short time, transformation for the future represents a high positive reference point for our efforts.

Decision-Making

Any decision is better than no decision at all. Every manager is ultimately responsible for their own choices and will have to make tough decisions with significant future consequences. Perfection and excellence are your enemies in this crisis. The environment is chaotic, full of misleading information and false reality images. Between so many economic disruptions today, we all need to cope with unprecedented levels of uncertainty. Therefore, we need to develop the capacity to find the opportunities and possibilities within the unknown rather than panic and retreat from risk. Those who develop the capability to succeed despite the crisis level are more successful, are more creative, and are better able to turn uncertainty into possibility. If you do not have an opportunity to get some critical data for your decision, you don’t have an opportunity to make the right decision.

No one action can transform uncertainty into a clear path of activities; however, success might ultimately emerge from persistent exploration and linking expertise from many different resources. When many unknowns appear, we need to make sense of the chaos and find clarity about what’s happening and what it means. The best leaders help their people derive power from the more profound meaning of uncertainty and chaos. This moment allows organizations to ground themselves in their core values. Focus on what is most important. Take the long view on the company’s future with the core values in perspective. A continuous process of sense-making from the perspective of something most valuable to us gives us chances to overcome any difficult time for the company.

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Is Crypto Safe? What You Need to Know

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Is Crypto Safe? What You Need to Know

What You Need to Know About Crypto Security

The cryptocurrency market is booming with more new coins and startups than ever, but they’re not all created equal. Cryptocurrency is a trailblazing technology that could overhaul the financial systems of the future. However, it’s wise to do your homework before actively trading or investing in cryptocurrencies with price volatility and privacy concerns.

What Is A Cryptocurrency?

Digital money that makes use of cryptography to safeguard transactions and regulate the generation of new units is called Cryptocurrency. It’s called a cryptocurrency because it relies on cryptography’s encrypted form of data. Cryptography also provides anonymity for users by obscuring their identity and, indeed, all aspects of their transactions.

Cryptocurrencies can be mined, traded or used to purchase goods and services. A person would have to rely on already established relationships with merchants or banks to make purchases in the past. 

How Safe Is Cryptocurrency?

Cryptocurrency is more than an idea to create a digital form of currency at its core. Cybercriminals have learned that they can target these digital currencies because they are not regulated and not backed by any government. In theory, it’s tough to track down the source or the location of cryptocurrency transactions.

Cryptocurrencies are a prime target opening for cybercriminals since it’s difficult to trace transactions and identify the individuals involved.

How to Safeguard Your Cryptocurrencies

Cybersecurity in Cryptocurrency is a common issue and one that you should be aware of if considering an investment. Though the concerns are real, these problems can be mitigated mainly through a few simple security steps before trading or investing in Cryptocurrency.

Here are some basics steps to help secure your account from Cryptocurrency transactions:

Password Protection

Enable two-step authentication and password protect your computer when searching for cryptocurrency exchanges. This will prevent anyone from accessing your machines if they are stolen or hacked.

Use a Virtual Private Network

A virtual private network (VPN) is a computer network where you can hide your proper IP address. If a hacker were to try and break into your account, they would see an IP address from the VPN, so it would be impossible to gain access.

Backup Your Wallet

Backup information that includes public address and private keys. This will help you retrieve any lost currency or prevent others from transferring Cryptocurrency from your wallet.

Use Multiple Wallets

Using more than one Cryptocurrency wallet helps protect your investment from theft even if your account is compromised. If you have a cryptocurrency wallet on multiple devices and platforms, it’s easy to keep a backup of your information in case of an account breach.

What Are the Risks Associated with Cryptocurrency?

With all the blockchain talk about decentralization and anonymity, getting swept up in the hype is easy. Cryptocurrency has become a rapidly growing portion of the investing market, and many retail investors are looking to trade or invest in cryptocurrencies.

While the technology behind cryptocurrencies is impressive, risks are rushing, making trading and investing in Cryptocurrency risky for inexperienced traders. 

Phishing Scams

Phishing scams come in many forms, including emails and text messages. These scams can occur on an individual or a more general level, as most commonly happens. The Federal Trade Commission (FTC) publishes information on detecting phishing scams. Still, it’s hard to tell the difference between a legitimate cryptocurrency exchange and an imposter because most large cryptocurrency exchanges do not have contact information listed for regulatory reasons.

Volatility

Cryptocurrency is a very volatile market that can swing wildly in either direction in almost no time at all. All cryptocurrencies are responsive to news, which can cause price changes within minutes or hours. There are also several different types of currencies, so you may have a hard time getting used to the volatility of each type. If you see only one digital currency (e.g., Bitcoin), it’s easy to assume stability when it’s still highly volatile.

Online Payments

While using crypto for online payments is a convenient method to pay for products and services, there are significant hazards involved with such transactions. When you pay for anything using bitcoin, you have no way of knowing the seller’s identity or having your payment details validated by a third party. You’re on your own if there’s an issue with the transaction.

With online purchases, you don’t have access to a complaint process, and there is no recourse if something goes wrong. This all results in anonymous transactions that pose risks online. As long as Cryptocurrency continues its rapid growth, this will be an iCryptocurrencyilers and sellers will need to solve.

Conclusion

Cryptocurrency is a highly sought-after currency for investors due to its untraceable nature and ability to exchange value without interference from a third party, such as a bank. However, this feature also makes it an appealing target for cybercriminals.

If you’re considering investing or trading in Cryptocurrency, educate yourself on the processes used to make transactions and invest your money safely and securely with reliable services that vet every transaction before letting it go through. Before diving in headfirst, make sure you research the different types of Cryptocurrency available and what risks are associated with each one. For more information on Cryptocurrency and its different types, visit our blog now!

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Where did the Zero Go?

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For as long as I can remember, I always looked around me, mainly at other boys, to get a sense of where I stood, of who I was.

It’s as if I had drawn a horizontal line with pluses on one side and minuses on the other and my position was the zero. There was that really cool kid, he was a plus, there was the dorky boy, he was a minus… At times being in the presence of pluses was inspiring but it was mostly threatening, because at that moment, it didn’t matter how many minuses existed or whether my “zero’ was pretty high up there, all I could see was a plus, and that made me the minus.

This applied to everything; from being good at sports to drawing or reading or the way I looked or how smart I was or how popular or cool I felt at any given moment. It wasn’t really about how I was feeling though, I could feel like a million bucks but if a plus walked in along any of the possible categories that I valued, my insecurities would immediately trigger.

I became really good at growing and repositioning my zero, or my reference point, and became a master at gauging others, categorizing and comparing. I didn’t just compare myself with the world, I was also comparing myself to different versions of myself…where was I at any given moment, compared to where I had been before, or where I could be, or even worse… where I should be.

As some of the things I valued started to loose importance, new ones came online. Having the coolest Star-wars set got traded for being liked by the most girls, having academic success got traded for being regarded as witty and successful, being the coolest got replaced by getting to be the kindest…and so it went.

Spiritual Ego

Then entered spirituality, the fix for all my struggles, or so I thought. It didn’t actually stop the comparison, because I turned it into the new playing field; The new standard where I got to measure and prove how special I was. There was a new flag to catch, and that was enlightenment.

I got really good at sustaining a very high level of consciousness, at being present, not judging people, being happy and all the things that came with paying close attention to my thoughts and emotions. I became particularly good at showing people how spiritual I was.

What a perfect solution… no more pluses to encounter because spirituality now trumped all. Someone could be successful and good looking and everything else that would make me feel less, but odds were they weren’t more spiritual than me; my spiritual zero was really up there. It felt like I had figured things out.

My sense of self was so invested in this new spiritual identity that I defended it with all I had. Seeing my attachment to it, was truly humbling.

Game Over

I realized taking the next step required the willingness to let go of my spiritual crutch. I had to come to terms with my addiction. My fix was the next high, amazing insight or awakening experience. In essence, not much different from looking for the next toy or business deal and believing it was going to make me happy. Accepting this, meant recognizing the fate of the game I was playing: no matter how meaningful it seemed at the time, no success had ever been enough, no amount of recognition or validation had ever ended my need for it, no spiritual high had ever quenched that thirst; I was an addict and it was never going to be enough.

As if just having been defeated for the millionth time at a video game and throwing the game controller on the floor, I felt the air sucked out of me and the engines behind that drive snuffing out. It wasn’t the bells and whistles of winning; it was the blinking “game-over“ sign on the screen.

A New Energy

Life started to take on a different flavor from that point on. The old energy of attaining comes and visits but it’s seen as an old friend that used to be so familiar and I’ve grown apart from. The zero seems to bubble up but it’s now seen as just a thought looking for friction and contrast to find its bearings.

Old dynamics still sometimes play themselves out, emotions still surface and I sometimes find myself reacting in the ways I used to. Now however, they seem to happen within a larger context and they are recognized as just temporary experiences not as things that define an “me” or a zero.

When these thoughts or emotions are happening in the absence of a reference point, there’s no separation between the experience and the experiencer. All that’s left, is a deep intimacy with life that moves through the world with an open heart and mind.

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Food Is Medicine And What We Eat Is Important

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Your mental state is a critical component of your physical health. And when you’re under a lot of stress, you might not be eating the healthy food that provides nutrients for fighting anxiety and depression. So when we examine what we’ve been eating, most of us discover that the decisions we’ve been making in the name of simplicity, convenience, or saving time have been damaging to our total health – body, mind, and spirit.

A person’s diet is a direct reflection of their health. When a person does not eat the right foods, their body breaks down. This can lead to an overall decrease in quality of life and many other diseases linked to improper nutrition. In North America, our current diet mainly consists of an excess of grain, sugar, fried and fatty foods. As a result, disorders including hypertension, diabetes, obesity, Alzheimer’s, and certain malignancies are becoming increasingly widespread.

The science of food has always been discussed; however, with recent technological innovations in food processing and agriculture, people have enjoyed more convenient foods that are less expensive than ever before. Unfortunately, with every convenience comes a trade-off. Smart foods are often packed with sugar, salt, and calories, leading to poor health in some individuals. 

To understand what a person is putting into their body, it’s essential to realize that the small molecules in food are responsible for allowing our bodies to function. These small molecules are called nutrients, including vitamins, minerals, phytochemicals, and enzymes. A nutrient is not a value unless absorbed by the body through a specific pathway. For example, if you absorb calcium without vitamin D, your body will not use that calcium. 

Eating a balanced diet keeps you healthy, but it helps reduce your stress. For example, eat foods rich in vitamins, minerals, and antioxidants because they help augment your immune response and prevent toxins from damaging your cells. Vitamins A, C, and E serve as antioxidants that fight off free radicals in the body. Free radicals are toxic products of metabolism that cause damage to your cells. Experts claim that they are responsible for the aging process. Good sources of these vitamins are deeply-colored vegetables- green leafy, yellow, and orange vegetables, such as squash, broccoli, kale, spinach, and carrots.

Iron is one of the most abundant minerals in the body, and it mainly functions to deliver oxygen to your cells. Hence, an iron deficiency, medically termed Iron-deficiency anemia, is associated with weakness, easy fatigability, and pale skin. Tea, coffee, red wine, grapes, and berries are rich in antioxidants that function the same as your vitamins A, C, and E. 
You need a diet that’s healthy and balanced – and one that can fit comfortably into your busy lifestyle.

Here are some of the recommended dietary guidelines.

Eat a diet high in fresh vegetables, vitamins, and minerals. 

Exercise every other day to release endorphins, feel good, get the blood flowing, and reduce stress levels. 

Eat salt only when you need it, but not too much as your body does not need it. Many people with anxiety are hypothyroid or have low magnesium. When your body needs more sodium, it can indicate that you are not producing enough cortisol or are dehydrated. If you experience chronic anxiety, I recommend working with a physician to run tests on cortisol levels and then take salt supplements as needed. Use spices like turmeric, ginger, curry, and aromatic herbs like parsley, rosemary, sage, and basil.
Eat low-fat meals because they will cause a minor spike in blood sugar levels: think lean meats, eggs, vegetables, and nuts; avoid dairy if it makes you feel anxious. 

Drink lots of water — keep hydrated all day — ideally at least half a gallon if possible — your brain needs water to function optimally! 

Avoid foods that you know will make you feel bad, such as dairy, even with low-fat content. You can cut out dairy and not worry about it! 

Avoid sugar, caffeine, processed foods, alcohol, and any other substance that makes you feel bad or increases anxiety levels. Also, avoid coffee — drinking more than one cup a day can cause anxiety in some people. Coffee is also dehydrating and inhibits the absorption of minerals from food/water/supplements — try caffeinated water as a substitute for coffee if you like the caffeine kick. 

Find a natural health professional that you can talk to or work with to quickly get the results you want. 

Healthy foods and nutrition can help you stay fit, but they can also assist you in treating disease. When you nurture your body physically with these nutrient-dense foods, your mental capacities improve, as does your spiritual welfare. Moreover, because your spiritual health is at its best, it will radiate to the exterior world, causing others to notice you’re happier and more relaxed, and your stress levels have decreased dramatically.

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