Coming back from Covid
A RECOVERY PLAN FOR YOUR BUSINESS
This is an important and timely course aimed at businesses who have been adversely affected by the pandemic.
It aims to support businesses refocus their business practices in light of changes in the markets for their products and services…
…and perhaps the reduced expenditure budgets of their customer base.
How we conduct this initiative.
Step 1: Which are their strategically important product and market groups?
In this session we get the company to take a ‘helicopter view ‘ of their key products and services.
It forces the company to confront the challenges and demands placed upon them in these testing times.
Initially we help the company identify their 3-4 critical product/market groups.
For each of these groups we then examine ….
i. What proportion does this product group represent of the company’s portfolio?
ii. What is the current status of this product/market group in terms of growth/decline (cash cow/star/question mark/dog)?
iii. Does this Product market group have an USP?
iv. Does the company have a particular core capability for this product/market group in terms of reputation/skills/expertise/products and services?
iv. How much marketing/design/technical support is required for this product/market group?
v. On what basis is this Product group currently competing (Cost/Service/Uniqueness)?
Step 2 : Examining changes that have occurred in the External and Internal environment of each product/market group.
The emphasis during this phase is to get the company to start identifying what changes have been forced upon it in the post-Covid world.
Amongst the things we cover are…
i. As a result of the pandemic has there been a change in customer demands for this product group?
ii. Have new competitors emerged or is there a move to alternative products?
iii. Could the current service offering be enhanced?
iv. Has anything changed in the supplier base? Has the supply chain evolved in any way?
v. Where are the bottlenecks and economic dangers in the supply chains?
vi. Can the company offer alternative products/services into this changed market?
vii. Has the company the skills and technological capability to compete in this changed market?
Step 3 : How do we need to respond to these challenges?
What should be done in response to these drivers, constraints,opportunities and threats?
Plans are drawn out for the Short, Medium and Long term for :
- What should be done in response to the factors identified in Step 2.
- What alternative scenarios could be considered : are there radical options for both products and services in this market?
Step 4 : What are the risks associated with this plan?
What concerns arise from the actions identified in Step 3?
More importantly, we get the team to identify what mitigating actions can be taken to minimise these concerns.
Step 5 : Developing and implementing an action plan.
The key outcome of this step is to get the company to develop a prioritised action plan based on the improvements identified in Steps 3 and 4 and to make measurable and visible changes to the business practices in the target areas.