As organizations position themselves to combat the new reality, it’s easy to default to old habits regardless of whether in traditional office spaces, or serviced office kl, however, those are often the times in which new approaches are most valuable. In light of the most recent global health crisis, the shift in economic market demand calls for a revamp of business models, where companies cannot afford to be constrained by pre-pandemic information sources or investment behaviors.
Why is this important? The pandemic has facilitated entirely new categories of business, some resulting in business creation altogether, as the next generation of entrepreneurs takes center stage post-COVID-19, it’s crucial that organizations choose to capitalize on circumstantial changes to succeed. Perhaps the most crucial role that entrepreneurs and organizations take during this phase is their commitment to recovery and readjustment to foster long-term sustainability for our community.
In order to not only survive the crisis but also thrive in the post-crisis world, one must acknowledge that crises don’t just create short-term shifts but lasting changes in the business ecosystem and marketing dynamics. Below are a few ways organizations can adapt to the post-COVID-19 market demands and review their growth opportunities.
Although the impact of the pandemic is one that has yet to be fully understood, one can infer that it has in fact altered the way consumers view products and services, ultimately affecting the foundation of the supply and demand chain. Organizations looking to develop strategies to emerge from this challenge must look into understanding changing habits in consumer culture. This can include detecting and reassessing shifts in the market, identifying trends that may be products, growth opportunities, and mapping out potential challenges based on those variables.
The key to this is investing time to discover what you don’t know, through delving deep into data and analyzing what the competition offers while forming multiple perspectives based on that finding. Doing this enables you to be armed with an understanding of where opportunities lie before shaping a revamped business model to capture better market value.
Consider looking into questions like:
– Who is doing well?
– What market segments are your rivals focused on?
– What products or services are they launching?
– What new crisis-induced needs do customers have, and what are they paying attention to?
– What new needs are employees responding to?
– What opportunities do they represent that could potentially be developed?
COVID-19 is believed to have caused the largest and fastest shift in human behaviour change at scale. The shift and adaptation of digital technologies has been accelerated, hence transforming towards more inclusive business models could be the key to meeting the demands of the post COVID-19 world. In order to adapt to the new normal, there should be an increased need to foster a global presence, to improve operational agility. Secondly, make time to discover the untapped value of existing consumers by focussing efforts on brand-building, instilling the company’s values and customer retention strategies that engage with happy partners and customers for long-term results.
Businesses globally have adapted and experienced remote work during the pandemic, where the resilience of business models, the resourcefulness of teams, and responsible cash management of companies across industries have been put to test. As the economy gradually normalizes, coworking has become a saving grate for cost optimization and flexible workspace needs.
Renting a dedicated workspace is an excellent way to stay productive and properly manage your time. At Colony, we provide flexible workspaces that are available to scale on-demand, giving your business the agile edge it needs. In fact, take advantage of our latest flexible serviced office kl package and SAVE UP TO 2 MONTHS OF RENT!
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Start planning your next best workplace by reaching out to us via our email at [email protected] or at +60 18-213 8086 to learn more about our Serviced Office KL.