Published : May 1st 2020 on Linked In
Recession this deep, create a panic & COVID-19 has proved to the world, that we are pretty vulnerable to disasters and ability to control the situation.
Situation puts immense pressure on organization with restricted money flow, most business market is shrinking. Stakeholders and investor’s watchful of operating expenses or overheads incurred by organizations.
Workforce, promotions & R&D are low hanging, so easy choice for the organizations without realizing the aftermath.
Problems
- Capital Markets are down & Economic activity shrinking & Negotiations & Price sensitivity is higher, while awarding contracts. Early rash response to situation without validating the exposure.
- R&D & Sales promotion is avoidable waste, cut them to instantly see bottom line gain.
Situation paralyze decision making, Customers cut expenses, move away from strategic levers as such decisions are easily questionable and very difficult to answer.
FLIP THE COIN
Flip the coin & look at COVID-19 positively. Whether this downturn present a situation of vantage point & opportunity to become better in the game and rise above the market competition.
It’s the time to innovate, see inward, retrospect & streamline processes. Set new standard of operations & Goals. Upscale the knowledge & expand niche of the organization.
Adopt new ways of operations, today major workforce is operating from home which has become substantial and positively affecting the bottom-line margin.
We are destined to adopt new R&D, sales & marketing strategies which will optimize value Chain. Now we have resources in abundance, optimized operations, schedule, reduced cost of logistics, quality resource pool etc.
Customers are craving to have the human interactions during the lock down & there are no gatekeepers. Right time to reach out to them & get more focused time to discuss strategies and close the deals & bring more value to the table.
Companies that injudiciously slash marketing spending often find that they later must spend far more than they saved in order to recover.
V SHAPED Growth Recovery when a growth plunge is followed by an equally sharp recovery.
The April-June GDP contraction will likely be on a scale not seen for decades. But fiscal and monetary stimulus – over $10 trillion and counting – could aid an equally swift rebound.
Ross Walker, co-head of global economics at Nat-West Markets, reckons the scale of economic decline expected this quarter implies “a sizeable rebound in Q3 and Q4 as businesses re-open
Situation presents an opportunity unthinkable in recent times, its the time to beat the competition and rise above them. Competing business is taking a step back & you need to take a step forward, so you are catching up the ground way faster or creating a leap of distance
When Situation turn around, organization should not be left behind the competition, middle of the market with their heads down, with lost edge & paralyzed.
Today’s investment in will bear fruit only after recession, So, validate the exposure & take careful but steps forward with these times.
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