Operational Strategic Planning In The Time of the Pandemic

Article by Varsos George, Business Consultant

The article was published in the June issue of STIGMA under the title "COVID-19 ... a new relationship model".

Businesses often face problems due to changing market conditions. For the first time they are facing a total shutdown of the market. When we say total cessation we mean the absence of supply until elimination but also the absence of demand until elimination. This has led to the banning of many key market companies for well-known reasons to prevent the spread of the coronavirus in the community and the sharp rise in the number of victims of the hitherto unknown virus. This was followed by the restriction of people at home and thus almost the annihilation of the ability to consume products.

This need was understood by almost the entire population and by the companies, which accepted the relevant precautionary measures. From that moment on, the companies started looking for ways to balance the situation that led to the reversal of the previous data. The answers they sought and continue to seek are not easy. They require data analysis with reflection, effort to gain new knowledge on the issues that arose, search for solutions beyond the usual, redesign plans and reorganize the company's action to adapt to new market conditions.

The effort now being made is to find ways to solve problems arising from the health, humanitarian and economic crisis as well as to identify those areas that need redesign or a dynamic restart. At the same time, it is not considered important to assist each part of the business structure with the restructuring required to meet the new needs of a more fluid environment for many companies.

Unfortunately, the messages that arrive describe an environment with many difficulties for the immediate future and with many and important changes in the markets at large, in many cases even complete and decisive.

In the context of the big changes that actually create a chaotic situation, companies are called upon to face a multitude of problems that most of the time find them unprepared. Questions such as how the market will restart, how companies will cope with this difficult environment of successive crises, what business structures companies will now have to develop and reshape, how the working environment within companies is changing, how businesses are now affected by the new work models and how they will guide their employees in them, how these violent changes are affecting business functions such as Sales and Marketing, and many more that may not yet be apparent, are but now the crown of their problems.

In trying to solve the problems that arise, the best way is for companies to plan, study and implement changes in their internal environment by carefully observing and analyzing the changes that are taking place worldwide in the external environment.

Through this text we will try to document the changes that emerge in order to strengthen in particular 3 main pillars of business strategic planning and with which companies will be able to grow dynamically in this new reality.

It is important to emphasize that a company's strategy first includes defining its vision, defining its mission, selecting its main objectives, planning the necessary projects for the successful implementation of the strategy, planning for the implementation of the projects and how to manage these projects. At the same time, it is worth pointing out that through the right strategy, the company gains a lasting competitive advantage in the market.

At the same time, proper Business Planning addresses changes in the business environment, safeguards the business from risks, maximizes the return on investment, inspires executives and staff, contributes to internal problems, leads the market and ensures participation in developments in general.

 

Initially analyzing the 1st Pillar of Business Strategy, we lead to the need to create Leading Teams with expanded and decisive roles and with the aim of drawing up, designing and developing the Corporate Strategy. They need to take action in order to mobilize and guide the whole business web in the right direction. To activate and promote the values ​​of the company, to all employees and consequently to society itself. The importance of this business structure lies in the fact that before the pandemic the habit of companies was to deal with short-term situations and not to plan their course in the long run.

With the main role being the search for new opportunities, the leadership teams now acquire roles of searching and evaluating possible new threats and which in many cases are not easily visible. To identify and diagnose unknown risks that lurk and differ in their formation of the usual and after evaluating them, to have a plan for dealing with hypothetical (but not impossible to happen) situations.

More specifically, the new expanded roles of the leadership teams include the development of emergency action plans, the calculation of financial returns and impact for each available business choice, the understanding and management of risks (predictable and others) to ensure operational continuity and the cost of each option taking into account relevant contingency plans and alternative scenarios. A typical example of the above is that the majority of executives (72%) intend to make more regular reviews of strategies and portfolios.

Continuing, in the 2nd Pillar of Business Strategy we meet the Management of the Human Resources of the companies and the necessity of taking care of the working conditions. In the era of the Pandemic, the need for redistribution of human resources is identified, in order to maintain the ability to operate the company with a typical example of changes in the way of working, strengthening teleworking and designing the methods that can be programmed (what are these positions and with whom way they will work). Indicatively, it is mentioned that 71% of the companies answer that more than 50% of their employees work remotely or have the possibility of teleworking.

In addition, care for the physical and mental health of employees is necessary. To achieve this, companies can develop a number of guidelines, which include improved or even innovative hygiene measures, the provision of additional means of individual and collective protection, redesign of the working topography to maintain a safe physical distance. In terms of protecting the mental health of employees, it is a high priority to provide counseling and support services to employees who need it after prolonged quarantine.

Strengthening internal communication, displaying positive messages, two-way communication with executives or management to answer all questions and engage in open dialogue with employees as well as the appropriate guidance of a remote team, are vital points for the company and the employees and contribute to maintaining and raising the morale and mood of the employees. In this way a climate of trust is created by responding to their concerns, concerns and needs.

Employees value frequent, honest and clear two-way communication, and based on this, organizations can improve their communication approach, instead of letting things evolve according to the rules of the pre-crisis era.

An additional tool that companies can use is the redistribution of roles and responsibilities of employees. To achieve this requires appropriate education and training in the development of new Skills and Virtues such as integrity, ethics, trust, cooperation, resilience, adaptability, balance, composure and empathy.

An important finding is the fact that 64% of companies do not yet have a plan to relocate employees based on their skills and abilities to other areas of the company, to meet business needs, showing that Greek companies have a long way to go to achieve business readiness.

 

In the 3rd Pillar we meet the need for Digital Transformation of companies, now realizing that digital technology plays a catalytic role in the new reality by providing the necessary solutions to modern "Business".

Most of the small and medium enterprises did not have a Business Continuity Plan that included the information and telecommunications infrastructure. As a result, their productivity is reduced due to the inability to implement effective teleworking of employees through remote access and coordination of their work.

A significant increase in the use of automated methods and artificial intelligence in the workplace is expected, such as teleworking, teleconferencing, e-commerce, resource management (ERP) systems, e-sales, e-payments. , Cybersecurity issues as well as Data Protection & Privacy issues. It is noted that as a priority 43% of companies will make changes in their investments in digital technology.

In conclusion, the design in a company extends horizontally and vertically, including detailed analyzes and finalization of solutions to be implemented. Strategic planning is the basis on which the business structure will be built and market intervention will be planned.

The business structure will be the catalyst for the effective operation of the business. That's why it has to be as good as possible. This will be achieved with a detailed and accurate analysis of the relevant parameters.

Market intervention, moreover, in its analysis and composition requires study with the use of modern tools, especially now and in the future, where companies are experiencing violent and structural changes in their external and internal environment. It also requires constant information, review, reassessment and adjustment of action where needed with determination always based on the vision and goals of the company.

In these two areas, the best needs to be done and the focus on them should be continuous and uninterrupted.