4 Ways To Help You Reset Your Business Strategy
And why you need it in a post-COVID world
Regardless of size, many companies across the globe have experienced undeniable disruptions to their business as countries responded to the threat and limitations of the COVID-19 pandemic. Now, with easing restrictions and growing vaccine confidence, more businesses are slowly resuming operations – with the goal of not just getting things “back to normal” but getting ahead of the competition.
Because let’s face it, things will probably never return to the way things were. If you’re planning to resume operations or are in the process of doing so, this is the perfect opportunity to restart afresh. Gone were the days where we stop the bleeding; now’s the time to make organized efforts to stabilize our business functions.
Here are our four tips as you reset your business strategy.
1. Balance quick wins with your long-term organizational targets. Have a clear vision of what you want your business to achieve, analyzing your goals, customer demand, and other market factors. While it is important to celebrate small victories, identify key milestones in your business roadmap to bring you closer to where you want to be and focus on those areas.
2. Talk about what’s changing – and why. Changing strategies, processes, and policies doesn’t happen overnight and with just one person. Help your leaders and employees understand these changes – why they’re changing, who is impacted, when they’ll take effect, and how they can contribute. Having this regular and transparent communication will ensure a guided transition with little room for misinterpretation.
3. Listen and respond. Gather the views and perceptions of your employees through informal and formal feedback channels. Use their responses to help you make decisions for the reset. By obtaining their input and letting them know they were heard, employees will more likely support change. This process also establishes healthy feedback loops and an environment of innovation that is necessary to experience continuous process improvement.
4. Restart governance. And no, we don’t mean to change your leaders and executives in a snap. Rather, empower these people to make the necessary changes and equip them with the proper resources. Assign process champions within your organization. Given authority and accountability, these people will help you charge forward in your journey towards process excellence.
As economies recover and more businesses stabilize their operations, it’s only a matter of time before we start living in the new normal. Use the lessons learned from the past and take this chance to look at things with a fresh perspective.
Resetting your processes and practices now may seem like a hurdle too high to overcome, but doing so will help your business move forward in speed and efficiency, regardless of any crisis that may suddenly come your way.
For HR leaders, having this kind of forward-thinking mindset is essential to leading your organization to a sustainable future. Find out how your company can gather momentum and maximize your investments with SAP Concur solutions.
NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, IT modernization and managed services. NTT DATA enables clients, as well as society, to move confidently into the digital future. We are committed to our clients’ long-term success and combine global reach with local client attention to serve them in over 50 countries. Visit us at nttdata.com/ph.
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