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Do³±czy³: 07 Mar 2024
Posty: 1
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 Wys³any: Czw Mar 07, 2024 07:21 Temat postu: What is the business strategy in times of COVID-19? Business |
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Jorge Iván Gómez , professor of General Management at INALDE Business School The purpose of this article is to answer the question about what business strategy should be applied by entrepreneurs and CEOs in their organizations in response to the crisis unleashed by COVID-19. Firstly, we will see the new strategic needs that we face today, secondly, I will present a useful concept to take into account in times of abrupt change in the environment and, finally, we will analyze five quick actions to face the new environmental situation and From the market. Today, businessmen and managers have the need to acquire a new strategic capacity called ambidexterity , which in turn must be the new DNA of the organization they lead. What is the strategy we should execute? We are going to start from a simple and operational definition of the strategy. Strategy is the adaptation of leaders and organizations to the complexities of the environment.
This means that any strategy requires adaptation, change and rapid response to the new political, economic, social, technological and environmental environment. COVID-19 is a threat or risk BTC Users Number Data that includes all environmental variables because it affects social habits and behaviors, generates a contraction in demand and creates new political rules of the game, with respect to situations such as mobility, border protection and the creation of new legal norms. The environment is everything that happens in the outside world that we do not control and that positively or negatively affects the company. The strategic thinking of an entrepreneur and manager must lead to a quick and effective response to changes in the environment and be correct because slowness or ignorance can lead to the disappearance of the company itself.
Read also: "7 strategies for entrepreneurs and managers: how to be more effective in a business environment affected by Covid-19?" Specifically, in Colombia we have five new environmental challenges to which we must respond quickly and effectively. Let's see: Growing increase in those infected by COVID-19 Weakening of the peso against the dollar and rising prices of raw materials, inputs and imported goods, including food Decrease in the price of oil and impact on Colombia's tax revenue from exports and lower dividends from Ecopetrol for the Colombian State Advent of digital transformation Cultural transformation with new habits and customs of the new generations, greater diversity and increased mobility of people. Next, I present a useful concept to face the challenges of the environment: ambidextrous strategies, which consist of carrying out something with the same ability in both hands. In strategic language it means having the organization's view and action on two fundamental fronts of activity: the present and the future. |
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