MARKETING
Surviving And Thriving
In Turbulent Times
By. Dr. Mary Mugo
Corona pandemic which was
unexpected has and will continue
to affect individuals and businesses
in varied ways. This is an external factor in
the external environment of the business,
meaning business cannot control it. The
pandemic will pose a threat or create an
opportunity for the business: how each
business reacts will lead to either their
death or glory. Businesses that fail to
exploit the presented opportunities will
either shut down or earn below average
returns. The fact that Kenya requires
numerous essential products presents
an opportunity for businesses to be
innovative and exploit.
Agility and adaptability on the part
of the organization and the employee
is important for business that wants
to survive and thrive in this turbulent
times. Bureaucracy will not work and
organizations that stick to old ways
of doing things will no doubt close.
Employees must drastically change their
attitudes and be willing to learn new ways
of doing things, being flexible enough
to go beyond the call of duty. Corporate
citizenship behaviour and organizational
commitment of the employees will play a
great role in steering companies.
Some organizations are already exploiting
the opportunity presented by the
pandemic: Kitui Textile is for instance
making masks, a number of universities
are also exploiting the opportunity
through manufacturing masks, PPEs,
Sanitizers and ventilators. Some learning
institutions have quickly adapted and
are making use of technology to ensure
learning continues. However those that
see the pandemic as a threat have closed
their offices and businesses. The learning
institutions who have not adapted have
closed with no learning taking place at all.
If such institutions are not careful they
may be extinct in the near future.
During this whirlwind, businesses are
using different methods to stay afloat
and survive. Some have completely shut
their offices; others have skeleton staff
working while in others staff are working
from home. To survive some businesses
have asked their staff to take unpaid leave.
Others have been forced to take pay cuts.
The question is for how long these tactics
will be sustainable. Every business must
understand that what works for one may
not work for another. Each and every
business must therefore understand their
strengths and choose strategies that will
enhance their survival and growth.
There are two major strategic moves
businesses may consider going forward:
the offensive moves and defensive
moves. Offensive moves are those that
will help the business expand; examples
include diversification and strategic
partnerships. For instance the passenger
Airlines and Matatus can convert their
fleets and do cargo business instead of
closing their business altogether due to
the partial lock down. Defensive moves
aim at avoiding or minimizing losses or
cutting costs; examples include operating
lean, downsizing and layoffs. There is no
universal path for all businesses to follow
to survive or thrive. Each business must
understand their own unique situation
and strategically act.
Businesses must be creative and make
difficult decisions, on their feet literally.
They must be agile and utilize their
assets and services differently. They may
also need to use different methods to
offer their services. For instance learning
institutions must seriously lean towards
e-learning models. Those that will not may
find it difficult to fit in this fast changing
environment.
Businesses may consider reducing space,
moving offices to less costly places or
having virtual office depending on what
you do. You could even relocate your
business to a more favourable county. To
remain lean you may have to learn to do
some things for yourself, even those that
you think are not cool. Reorganize how
you advertise your products and services
and lean more on the cost effective digital
marketing option. Offer your products
and services at favourable rates to grow
your client base and target other clients
that you never served before. Focus on
what you can control so that you come out
stronger. Build systems and showcase your
brand consistently to remain relevant.
Individuals need to start doing things
differently to survive in the new
dispensation. For instance grow your
own vegetables and do away with nonessential
items. Roll up your sleeves
and do something from home to make
yourself better and valuable. This is the
time to sharpen your skills and make
yourself more marketable. Learn from
digital materials and read that book that
you have always wanted to read. Invest
in yourself using minimum resources. I
recommend you read the book How to
Thrive and Influence your Workplace by
Dr. Mary Mugo to understand how to
play functional politics and be among
those that will not be laid off in case your
organization decides to go that way. In a
nutshell either adapt or die.
Dr. Mary Mugo is a Senior Lecturer
and Dean Business and Economics
at Multimedia University of Kenya.
She is an author, and Consultant in
Strategic Management, Marketing,
Leadership, and Human Resource
Management: You can commune with
her on this or related matters vide email
at: [email protected], or visit
her website at: www.marymugo.com.
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