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Sunday Dec 29, 2024
Monday, 4 October 2021 02:39 - - {{hitsCtrl.values.hits}}
MTI CEO Hilmy Cader, New Zealand-based Director Dr. Jason Cordier and Country Lead for India Darshana Buragohain
Citing its own experience and that of its international clients, MTI Consulting said yesterday that organisations which used the last 18 months to ‘Ground Zero’ and re-strategise, were already beginning to see green shoots.
“It’s not the crisis that will cripple your business, it’s your business response to the crisis,” said MTI Consulting CEO Hilmy Cader.
According to MTI Consulting, most organisations tend to indiscriminately cut costs, freeze all forms of developmental work and adopt a ‘wait and see’ approach.
By contrast, the smarter companies, while being cautious prudently, use the crisis period as an opportunity to critically evaluate every aspect of its Strategy, Structure, Staff and Systems, challenging every dollar and every stroke of work as to the value added. They also see the upside of acquiring low valued assets, strengthening their market position (given lower level of competitive/marketing activity) and gearing their organisations for the upturn.
MTI said since the tulip crisis in 1637 (earliest documented), economies and business have been impacted by such a crisis. In more recent history, the world has experienced the Great Depression (1929), Asian Financial Crisis (1997), the Dot-com Bubble (2000), and the Global Financial Crisis (2008). Through all these crises, we have witnessed the failure of some of the strongest companies that enjoyed meteoric rise in the good times. Extensive Research and MTI’s own international experience (across 49 countries in 24 years) shows that how businesses respond to the crisis, is what separates those that ‘survive and thrive’ from the ‘departed’.
According to MTI the 8 Smart Moves that enabled organisations to optimise the COVID downtime are:
