Tuesday, 02 June 2020

Business Transforming Strategies

02 April 2020 | Features | By Dr.Rahul R Joshi (PhD), Manager – Marketing & Operations (Cell Culture Division), HiMedia Laboratories

Where are you focusing and what is your aim?

Dr.Rahul R Joshi (PhD), Manager – Marketing & Operations (Cell Culture Division), HiMedia Laboratories

Dr.Rahul R Joshi (PhD), Manager – Marketing & Operations (Cell Culture Division), HiMedia Laboratories

Business transformation is actual execution of the quote, ’Only Change is Constant’. Change is necessary not only for survival but also for improvement. There are several strategies for creating or implementing the intended changes however; two things, without which none of the strategies would work are, Aim and Focus.

To transform business into something more efficient, profitable and sustainable, we must have clarity about what is it that our business needs and where our focus should be.  There are important things we can learn from the current situation of Covid-19 pandemic. Although there is panic among people across the globe, we can still see a positive change where all countries are trying to bring change by focusing on 3P’s - Prevent, Protect and Prepare, before finding the cure to it. While we all know, an absolute cure is the ultimate aim against COVID-19, however; where we are mostly focusing at present is towards Prepare which will not only help us better prepared against COVID-19 but against others infectious diseases too. This is a positive change or transformation for better human life. Worldwide, specialists are concentrating on broader focus area (macro things) towards the safe guard of billions rather than simply focusing on the absolute aim, which will ultimately lead to success, appreciation and peace in the world. The absolute aim, which may now seem to be like an uncertainty with respect to time, will definitely follow as we focus on micro-analysis. Current situation pertaining to COVID-19 has the potential to mentor us with an ideal analogy to transform our existing business by making us learn to focus on  3P’s- Prevent , Protect & Prepare .

From above mentioned 3P’s let’s focus and emphasize more on the ‘Prepare’ aspect further.

One may wonder what do we ‘Prepare’ for and where to focus? If we want to take our business to greater heights in terms of revenue, one assured way to ‘prepare’ is to focus more on market needs, consumer behavior & training our staffs rather than just monitoring and governing routine activities. This is what is being currently done in India by our healthcare and administrative leaders, which has enabled the government in keeping the new pandemic under control so far. More revenue, profit and growth are the byproducts, which is always decided or defined by our point of focus, which should be market needs & development of a robust team.

As a marketer it is quite important to seed right thoughts in a team to ensure that business focus  is aligned in such a way so as to define and choose right objectives thereby leading to a sustainable business growth model (for minimum 3 to 5 Years).

Transformation is a strategic change in any process for a forward outcome.  It leads us from where we are to where we want to be. Transformation, most certainly, comes at the costs of comfort and certainty. It is only when the caterpillar stops eating, hangs upside down from a twig or leaf, the caterpillar radically transforms into a beautiful butterfly in its cocoon and comes out in a newer and more active form.

 

                                                                                              Dr.Rahul R Joshi (PhD)

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