Question

Describe the strategies for your organisation in future to maintain the business profitability after the impact of covid-19. [30 marks]

Answer 1

PLEASE RATE POSITIVE IF YOU LIKE MY ANSWER TO ENCOURAGE MY EMPLOYMENT

Following are the strategies for remaining profitable post COVID

• Be connected with the employees and maintain close communication to keep them engaged and motivated. This will ensure that un-necessary churn is less and productivity is not impacted
• Build a strong relationship with customers by communicating regularly and empathizing genuinely. Crisis situations like this is a good opportunity to let them know that you care for them. This will reap good dividends in the long run
• Implement a strategic pricing structure to improve margin by leveraging market and consumer data. The pricing structure has to be agile which can be changed rapidly depending upon evolving business scenario
• Focus on cost reduction across the value chain based on the evolving definition of value-addition. Customer buying behavior may change and as