Our world is changing rapidly and continually, there is no doubt about that. Thus, companies need to adapt their strategy to survive in the fast paced environment. In our short report, we gathered five key aspects to focus on that are imperative to business health.
5 essential steps identified
- Research shifting demand
- Revisit your customer value proposition
- Re-evaluate the strategy
- Respond with agility
- Reshape our teams
The points are based on or lead into each other, the primary task is to reassess your goals, align your strategy with them and be smart with your budget instead of plain cost cutting.
As our Managing partner, Stefan Erschwendner said:
“You can’t cost cut your way to future growth.”
The pandemic forced people to build a ‘new normal’ which cannot be tackled with old attitudes, which applies to the outdated approach towards strategy; creating 5 year plans. We cannot emphasise that being reactive, or even better proactive is the key to producing value for your new and existing customers. This requires investing in research to always be aware of new needs and pain points; pondering over how you can answer to the new demands; and putting your solutions to action in the form of strategy.
On the other hand, transforming your mindset is crucial as well: think agile and flexible. Companies need to suspend the traditional ways of decision making and design their organization for speed as their competitive advantage. This also includes their indoor operation, seizing the opportunities of remote and hybrid work aiming for effectiveness, as well as the benefits of technology.
Additionally, we made sure to include a real-life example, so the concept does not feel elusive. How can a Chinese car-rental company implement these steps into practice? Download our short report to find out.
Interested in the 5 Critical Steps to Business Resilience Report?
Frontira is a Strategic Design firm that supports clients with smart thinking and doing. We define, build and scales digital businesses that create new growth for some of the leading companies in the world. We believe in using design principles and practices to guide strategy development and implementation toward innovative outcomes that benefit people and organizations alike.
Our teams are serving clients globally with a focus on financial services, telecommunication, pharma, and retail. Frontira is operating studios in Berlin, Budapest, Salzburg and works with an international expert network.