What can we plan for, and how?
What practices have proven successful during this uncertain time of crisis?
We will provide you with a few basic guidelines for the coming year that we drew from our 30 years' worth of experience along with practical research and analysis of our own business, our clients’ experiences, and the input from consultants and experts, both domestic and foreign. Although our focus is the textile industry, the guidelines are applicable in many other areas of business as well. It has never been more important for companies to be in touch and in sync with the wants and needs of their customers. Thorough planning, an open mind, and a flexible approach will be the key to future success.
We would like to highlight the following 3 segments as proven and reliable practices and experiences to follow in the coming year.
Setting new and/or revising the current long-term goals and strategies is, of course, a logical step. Perhaps the most important component of a successfully set strategy and the realization of the same is the following: The level of flexibility and motivation you have while drawing up the strategy!
What does that entail?
In business, as in your daily life, it’s beneficial to set challenging, yet realistic short-term goals that always push you ever so slightly beyond your current capabilities and move you a step closer to realizing your strategy. To achieve a higher degree of flexibility, you should couple this with some ’easier’ goals and KPIs (Key Performance Indicators) to serve as an ’emergency line’. Falling bellow the line is worrisome. The area in between that line and what you envision as your peak performance is the path that takes you forward. In that area, you can attain your flexibility, adaptability, consistency, and along the way, your success!
The pandemic opened up the consumers to new ways of digital communications and networking. Therefore, the faster you further your digitalization, the better you will fare in the uncertain times to come.
What’s next?
You should continue improving the tools you have at hand, and raise your competencies and knowledge in the digital area of business. Along side that, human resource development is imperative! Your people are the greatest and most important capital for the future. A new environment entails new forms of communication. Therefore, developing and perfecting the competencies of your employees should be in line with the new, increasingly virtual environment.
One of the traits of the pandemic is the strengthening of the spirit of community, both large and small, and an emphasis on sustainability. The astonishing resourcefulness of men has brought us innovative products, systems, and solutions that allowed us to thrive and progress even in these testing times. The focus has shifted towards local suppliers and manufacturers, involving the client in planning and sharing our experiences, resources, and energy. This approach should be nurtured. We need to follow and support this trend of protecting our environment and fostering sustainability by raising our standards using the knowledge and capacity that we already have. In these times, we all need to be devoted to creating realistic and pragmatic solutions to challenges coming our way!
Sources:
