How the Coronavirus is Leading to Strategy Development, According to Lisaveta Ramotar
Many companies are suffering through the coronavirus pandemic because of the way that they are structured. They are deemed non-essential and may be forced to close their doors. Meanwhile, some companies are thriving through e-commerce. Lisaveta Ramotar, a management strategist, explains that strategy development is key to success.
Lisaveta Ramotar has had a significant amount of experience working with businesses of all sizes. She was able to increase revenues of her organization by 30 percent during her time as General Manager. She also holds an MBA in Business Administration from the University of Toronto.
Companies of all sizes can be affected by the pandemic. From the lower spending to the rules of social distancing, companies are struggling to figure out what to do next. Lisaveta Ramotar suggests that it’s necessary to take a step back and begin developing a new strategy.
Some companies have figured out how to address key problems in order to maintain operations. This can include moving data to the cloud and allowing employees to work from home. Other companies have invested in new technologies that allow them to offer virtual meetings and consultations. Where there is a will there is a way, and Lisaveta Ramotar has worked with companies who need to figure out how to change the way they do business.
Lisaveta Ramotar suggests that companies need to be interactive in various degrees with all of their key stakeholders. This translates to talking to the stakeholders about various aspects of strategic changes that would be responsive to the current pandemic and what changes can be made to help with the overall goods and services offered.
Lisaveta Ramotar explains that strategy development is completed in stages. In some cases, companies may be required to re-thing their organization’s mission. From there, it involves exploring the game plan and creating a full strategy map to ensure that everyone throughout the company understands their new role. Once the strategy is fully implemented, it will involve measuring the achievement of targets and making tactical changes as needed.
With companies around the globe being impacted by the pandemic, Lisaveta Ramotar recommends that every company take the time to find out if their existing model will continue to work. Even businesses that are not currently impacted may feel the impact down the road, especially if their supply chain is being affected.
Lisaveta Ramotar suggests that a company of any size spend time in strategic development during the pandemic to ensure that they are positioned for success. If a company is dealing with problems with their revenue, the time to make changes is now. Waiting to see how the pandemic plays out can mean it’s already too late to make changes. Companies need to remain competitive, and strategies to deal with the pandemic are critical.
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Caroline Hunter
Web Presence, LLC
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SOURCE: Web Presence, LLC
Caroline Hunter
Web Presence, LLC
+19412233529
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