23 Apr 2020, 13:11 — 4 min read
Every organisation has a plan to achieve their vision and business goals. Under normal circumstances, these are long term goals. The situation caused by the COVID-19 pandemic has created an uncertain environment, where the best laid plan and strategies have come to naught. What worked yesterday may not work tomorrow.
It is times like these that force us to re-evaluate our vision and goals. This is the time to reinvent the wheel as the world and business landscape as we know it has changed and is still changing to cope with the upheaval caused by the pandemic.
So, what must SMEs do?
The planning that is required for 2020 and beyond is very different from what you have done in the past. Revisit and redefine the vision for your organisation with your leadership team, considering the current scenario we are in.
The business environment is yet evolving due to this crisis. In this scenario, identify your Business Goals and articulate the various steps that you will take to achieve them.
Consider the following questions while you develop your plan:
Thus, the four key elements that will help you define and achieve your business goals are:
Build your Business Goals around these four pillars for 2020 involving your core leadership team and be reset and ready when the markets reopen. If possible, have a sounding board or mentor of your choice to guide you along this journey of change.
Also read: Should SMEs behave like a startup during crisis?
Image source: shutterstock.com
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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.
Posted byCherian Kuruvila
Expert Advisor and Consultant for SMEs on the platform, specially to address queries on the impact of COVID-19 on business owners in India I have over 38 years of overall...
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