New Reality, New Business Models

As a result of the fast emergence of the new commercial reality, several business models that were profitable until the first quarter of 2020, are now obsolete, forcing business leaders to rethink strategies to survive in this new scenario.

Friday, October 30, 2020

The spread of covid-19 generated radical transformations in the markets for goods and services, in the ways people work, modified several consumption habits, and even changed some tastes and preferences.

In order to try to recover the sales levels of companies and survive the change of era in business, companies have been forced to apply new strategies, which are based on dedicating themselves fully to clients, reconfiguring leadership, learning, and incorporating technology, among other aspects.

Starting to design new strategies is a real challenge, however, there are basic guidelines that could help.

You may be interested in "How do Purchasing Intentions Evolve?"

For Ram Charan, consultant and professor at Harvard Business School, "... 'you have to start thinking about the customer, what is better for them, how to make the processes faster, what is attractive, among other things. You have to serve each individual; you have data on each one so you can predict the needs. Companies should start doing it voluntarily." reviews that according to Charan "... for an adequate transformation strategy, you must start with the people. In this new era, there is no one more important than the people, both the final customer and the collaborators of the organization. In this sense, we must attract and keep the best talent, motivate them and help them grow or else they will go to other organizations where they can develop as they wish."

Creating agile work teams based on each person's performance, looking at external business trends before intervening in the organization and dedicating oneself to constant learning, are other actions that could support the creation of an adequate strategy.

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