The COVID-19 has greatly shaken the Economic prospect of India and the entire world.
To deal with this situation, Mr Christopher Doyle, an expert, of TenX Growth Seminars, shared his own experience and put up a few simple strategies which he believes will help business not only to survive but also grow in the next twelve months after COVID-19 disaster. To cope up with the present situation, Mr Christopher has set out a few points, step by step, that every business can start immediately and expect to survive the economic crisis in the next two to three months and ensure recovery and growth after the crisis is over. Following are the points in brief:
- Organisation must plan depending upon its own Core Competence
- Allied diversification /New Idea.
- Focused Goal: Look for opportunities
- Reframing and turning problem to opportunities
- Assign Probabilities to Assumptions
- Goal Setting Framework >Strategies Leaderships – The art of setting goals in a Vision and Values-based Framework >a) Strategic Plan > b) Initiatives > c) Accountability> d) Evaluate And Iterate.
- Innovation >Emerging Technology
- Communication with > Existing Customers > Probable Customers>Channel Partners/ Suppliers >In-house Personnel
- Motivational Activities
- Skill Development > Futuristic Approach
- Follow ICE Model
- Use all Tools
- Proper Cash Flow Management /Fund Management/Cost Management
- Revenue Generation Initiative
- Importance to better Customer Relationship Management
- New Initiatives
- Publicizes Core Competence
19, Brand Building Initiative
- Market Research >Buyers behaviour>Changes in customer mind> Brand Loyalty >Competitors Products Positioning>How to get competitive advantage in the new environment.
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