Though there are signs now of the virus being in retreat, as it does so, it may fundamentally alter lifestyles and practices for all of us. In its wake, it could also leave many lasting changes in the way companies run their businesses. Four such changes are variabalisation, decentralisation, localisation, and virtualisation.
Variabalisation
Companies will strive to achieve close to zero fixed costs and overheads. It was already on the agenda for many startups and large corporates alike, as funding and liquidity became scarce over the last 12 months. Investors in startups had started to stress on ‘evidence of profitability’ as a prerequisite to provide funding for growth. There will be a much more aggressive push now towards converting all costs to variable costs directly linked to business volume, even if it comes as a slight per-unit cost premium. Owning expensive assets and high fixed rentals will become even more of a bugbear. Companies will seek more flexible rental payout structures, which could be tied to business volumes.
Companies will also look to variabalise employee cost to the extent possible. And for this, they will look to engage more freelancers or third party, specialist agencies for specific projects or jobs. They will look to outsource even some of the core business functions, such as accounting or sales and marketing. This will allow them to ramp-up or scale-down faster as the need may be. The ‘worker-supervisormanager’ hierarchy, which is still prevalent in many organisations, will get completely upended or, at the least, considerably flattened out as a result.
Decentralisation
Esta historia es de la edición August 2020 de Indian Management.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 2020 de Indian Management.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Trust is a must
Trust a belief in the abilities, integrity, values, and character of any organisation is one of the most important management principles.
Listen To Your Customers
A good customer experience management strategy will not just help retain existing customers but also attract new ones.
The hand that feeds
Providing free meals to employees is an effective way to increase engagement and boost productivity.
Survival secrets
Thrive at the workplace with these simple adaptations.
Plan backwards
Pioneer in the venture capital and private equity fields and co-founder of four transformational private equity firms, Bryan C Cressey opines that we have been taught backwards in many important ways, people can work an entire career without seeing these roadblocks to their achievements, and if you recognise and bust these five myths, you will become far more successful.
For a sweet deal
Negotiation is a discovery process for both sides; better interactions will lead all parties to what they want.
Humanise. Optimise. Digitise
Engaging employees in critical to the survival of an organisation, since the future of business is (still) people.
Beyond the call of duty
A servant leadership model can serve the purpose best when dealing with a distributed workforce.
Workplace courage
Leaders need to build courage in order to enhance their self-reliance and contribution to the team.
Focused on reality
Are you a sales manager or a true sales leader? The difference, David Mattson, CEO, Sandler® and author, Scaling Sales Success: 16 Key Principles For Sales Leaders, maintains, comes down to whether you can see beyond five classic myths that we often tell ourselves about selling.
