3 Ways To Win in the Post Pandemic World

Businesses will fight the impact of Covid-19 pandemic on various fronts for months to come. Ultimately, it is believed to come to a stable position sooner or later. But the question is, how to come back right after the pandemic? Covid-19 is a shock to all the companies around the world. It has changed the ways of how the business world is perceived including economics, social structures and of course consumer behavior. Things will start changing where regulators will step in, competitors will aggressively react to grab market share back, politics will remain in the forefront, international trade will experience shifts and undoubtedly technology will disrupt at a faster pace. To win in this new world, we believe in the 3 Steps Approach. 

IIP- Innovate, Integrate, Present approach

Innovation

It was always a mandatory ingredient for growing and a key attribute in a company culture. To keep innovating. Now it has become a vital question of mortality. The saying ‘Innovate or Die’ was never more appropriate. Innovation does not necessarily mean only by technology breakthrough. It has to be incorporated in how business operation is run, in organizational culture, employee motivation programs, sourcing procedures, recruitment policies, marketing strategies and customer relationships. The world is expected to accelerate after this break when the resistance wears off a bit and only businesses finding the right mix of innovation and flexibility will be prepared to match with the pace and survive. The sooner we accept this reality the better we can prepare. Opportunities are lying around in disguise.

Integration

Just how a human brain is integrated to every part of the body at the same time, the business in the new world has to be integrated with all its partners and stakeholders dynamically in real time. There will be no space for chain model where operation and supply chain are linked from one step to another. The traditional supply chain model is expected to be modified in a way where all the links will be inter-connected. This is within the concept of Digital Supply Chain which is a part of Fourth Industrial Revolution. Now is the time companies adapt themselves to an integrated and digital supply chain model to maintain both, the speed and transparency.

Presentation

Third, and a very important one is reaching out to the right audience with the right content, breaking through the clutter. As the competition will prevail and the battle to grab back the market share will intensify, leaving the environment to be noisy naturally. You will need to promote your strength, you need to be visible. If you have something great to offer, do not hesitate a bit to reach an extra mile and boast it. Just as suppliers are looking for the right buyers, buyers are constantly searching for the right suppliers, so go out and be visible, create the buzz.

Mixture of these 3 strategies will surely be a winning recipe for any company. As simple as that Innovate - Integrate- Present. I strongly suggest the SMEs to follow these 3 steps to get back to the game and win.